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§ 4106. Payable through or payable at bank; collecting bank

Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 13 Pa.C.S.A. Commercial Code

Purdon's Pennsylvania Statutes and Consolidated Statutes
Title 13 Pa.C.S.A. Commercial Code (Refs & Annos)
Division 4. Bank Deposits and Collections (Refs & Annos)
Chapter 41. General Provisions and Definitions
13 Pa.C.S.A. § 4106
§ 4106. Payable through or payable at bank; collecting bank
Currentness
(a) “Payable through” a bank.--If an item states that it is “payable through” a bank identified in the item, the item designates the bank as a collecting bank and does not by itself authorize the bank to pay the item, and the item may be presented for payment only by or through the bank.
(b) “Payable at” a bank.--If an item states that it is “payable at” a bank identified in the item, the item is equivalent to a draft drawn on the bank.
(c) Draft names nonbank drawee.--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

1992, July 9, P.L. 507, No. 97, § 7, effective in one year.
13 Pa.C.S.A. § 4106, PA ST 13 Pa.C.S.A. § 4106
Current through Act 11 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
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