674.1061 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.
Section: Previous 674.101 674.102 674.103 674.104 674.105 674.1061 674.1071 674.1081 674.1091 674.1101 674.111 NextLast modified: September 23, 2016