Payable through or payable at bank; collecting bank.

1. Law
2. Florida Statutes
3. Commercial Relations
4. Uniform Commercial Code: Bank Deposits and Collections
5. General Provisions and Definitions (Ss. 674.101-674.111)
6. Payable through or payable at bank; collecting bank.

(1) If an item states that it is “payable through” a bank identified in the item:

(a) The item designates the bank as a collecting bank and does not by itself authorize the bank to pay the item; and

(b) The item may be presented for payment only by or through the bank.

(2) If an item states that it is “payable at” a bank identified in the item:

(a) The item designates the bank as a collecting bank and does not by itself authorize the bank to pay the item; and

(b) The item may be presented for payment only by or through the bank.

(3) If a draft names a nonbank drawee and it is unclear whether a bank named in the draft is a codrawee or a collecting bank, the bank is a collecting bank.

History.—s. 12, ch. 92-82.

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