Texas Business & Commerce Code - Section 4.106. Payable Through Or Payable At Bank; Collecting Bank
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Texas Lawyer > Business & Commerce Code > Texas Business & Commerce Code - Section 4.106. Payable Through Or Payable At Bank; Collecting Bank
§ 4.106. PAYABLE THROUGH OR PAYABLE AT BANK; COLLECTING
BANK. (a) If an item states that it is "payable through" a bank
identified in the item, the item:
(1) designates the bank as a collecting bank and does
not by itself authorize the bank to pay the item; and
(2) may be presented for payment only by or through the
bank.
(b) 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) 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.
Amended by Acts 1995, 74th Leg., ch. 921, § 4, eff. Jan. 1, 1996.
Section: 3.604 3.605 4.101 4.102 4.103 4.104 4.105 4.106 4.107 4.108 4.109 4.110 4.111 4.112 4.201
Last modified: August 10, 2007
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