§ 4105. “Bank”; “depositary bank”; “intermediary bank”; “collecting bank”; “payor bank”; “prese...
Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 13 Pa.C.S.A. Commercial CodeEffective: July 1, 2001
Effective: July 1, 2001
13 Pa.C.S.A. § 4105
§ 4105. “Bank”; “depositary bank”; “intermediary bank”; “collecting bank”; “payor bank”; “presenting bank”
The following words and phrases when used in this division shall have the meanings given to them in this section:
“Bank.” A person engaged in the business of banking, including a savings bank, savings and loan association, credit union or trust company.
“Collecting bank.” A bank handling an item for collection except the payor bank.
“Depositary bank.” The first bank to take an item even though it is also the payor bank unless the item is presented for immediate payment over the counter.
“Intermediary bank.” A bank to which an item is transferred in course of collection except the depositary or payor bank.
“Payor bank.” A bank that is the drawee of a draft.
“Presenting bank.” A bank presenting an item except a payor bank.
Credits
1979, Nov. 1, P.L. 255, No. 86, § 1, effective Jan. 1, 1980. Amended 1992, July 9, P.L. 507, No. 97, § 6, effective in one year; 2001, June 8, P.L. 123, No. 18, § 11, effective July 1, 2001.
13 Pa.C.S.A. § 4105, PA ST 13 Pa.C.S.A. § 4105
Current through Act 11 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
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