Payable through or payable at bank; collecting bank - 13 Pa. Cons. Stat. § 4106
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Pennsylvania Statutes
§ 4106. Payable through or payable at bank; collecting bank.
(a) "Payable through" a bank.--If an item states that it is
"payable through" a bank identified in the item, the item
designates the bank as a collecting bank and does not by itself
authorize the bank to pay the item, and the item may be
presented for payment only by or through the bank.
(b) "Payable at" a bank.--If an item states that it is
"payable at" a bank identified in the item, the item is
equivalent to a draft drawn on the bank.
(c) Draft names nonbank drawee.--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.
(July 9, 1992, P.L.507, No.97, eff. one year)
1992 Amendment. Act 97 added present section 4106 and
renumbered former section 4106 to present section 4107.
Section: 3604 3605 4101 4102 4103 4104 4105 4106 4107 4108 4109 4110 4111 4201 4202
Last modified: November 27, 2007
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