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§ 4-106. Payable through or Payable at Bank; Collecting Bank

Oklahoma Statutes AnnotatedTitle 12A. Commercial Code

Oklahoma Statutes Annotated
Title 12a. Commercial Code (Refs & Annos)
Article 4. Bank Deposits and Collections (Refs & Annos)
Part 1. General Provisions and Definitions
12A Okl.St.Ann. § 4-106
§ 4-106. Payable through or Payable at Bank; Collecting Bank
Currentness
PAYABLE THROUGH OR PAYABLE AT BANK; COLLECTING BANK
(a) If an item states that it is “payable through” a bank identified in the item, (i) the item designates the bank as a collecting bank and does not by itself authorize the bank to pay the item, and (ii) the item may be presented for payment only by or through the bank.
(b) If an item states that it is “payable at” a bank identified in the item, (i) the item designates the bank as a collecting bank and does not by itself authorize the bank to pay the item, and (ii) the item may be presented for payment only by or through the bank.
(c) If a draft names a nonbank drawee and it is unclear whether a bank named in the draft is a co-drawee or a collecting bank, the bank is a collecting bank.

Credits

Laws 1991, c. 117, § 99, eff. Jan. 1, 1992.
12A Okl. St. Ann. § 4-106, OK ST T. 12A § 4-106
Current with emergency effective legislation through Chapter 182 of the Second Regular Session of the 59th Legislature (2024). Some sections may be more current, see credits for details.
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