§490:4-105 "Bank"; "depositary bank"; "payor bank"; "intermediary bank"; "collecting bank"; "presenting bank". In this article:
(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) "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;
(3) "Payor bank" means a bank that is the drawee of a draft;
(4) "Intermediary bank" means a bank to which an item is transferred in course of collection except the depositary or payor bank;
(5) "Collecting bank" means a bank handling an item for collection, except the payor bank;
(6) "Presenting bank" means a bank presenting an item, except a payor bank. [L 1965, c 208, §4-105; HRS §490:4-105; am L 1991, c 118, pt of §4]
Section: Previous 490-3-603 490-3-604 490-3-605 490-4-101 490-4-102 490-4-103 490-4-104 490-4-105 490-4-106 490-4-107 490-4-108 490-4-109 490-4-110 490-4-111 490-4-201 NextLast modified: October 27, 2016