Payable Through or Payable at Bank; Collecting Bank

1. Law
2. Georgia Code
3. Commercial Code
4. Bank Deposits and Collections
5. General Provisions and Definitions
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, the item (i) designates the bank as a collecting bank and does not by itself authorize the bank to pay the item; and (ii) 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, the item (i) designates the bank as a collecting bank and does not by itself authorize the bank to pay the item; and (ii) 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 co-drawee or a collecting bank, the bank is a collecting bank.

(Code 1981, §11-4-106, enacted by Ga. L. 1996, p. 1306, § 5.)

Editor's notes.

- Ga. L. 1996, p. 1306, § 5, effective July 1, 1996, renumbered former Code Section 11-4-106 as present Code Section 11-4-107 and added this Code section.

RESEARCH REFERENCES

U.L.A.

- Uniform Commercial Code (U.L.A.) § 4-106.

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