Sec. 45.04.105. “Bank”; “depositary bank”; “intermediary bank”; “collecting bank”; “payor bank”; “presenting bank.”

1. Law
2. Alaska Statutes
3. Trade and Commerce
4. Bank Deposits and Collections
5. General Provisions and Definitions.
6. Sec. 45.04.105. “Bank”; “depositary bank”; “intermediary bank”; “collecting bank”; “payor bank”; “presenting bank.”

In this chapter,

(1) “bank” means a person engaged in the business of banking, including a savings bank, savings and loan association, credit union, or trust company;

(2) “collecting bank” means a bank handling an item for collection except the payor bank;

(3) “depositary bank” means 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;

(4) “intermediary bank” means a bank to which an item is transferred in course of collection except the depositary or payor bank;

(5) “payor bank” means a bank that is the drawee of a draft;

(6) “presenting bank” means a bank presenting an item except a payor bank.

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