(a) 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.
(b) 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.
(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.
Section: Previous 11-4-101 11-4-102 11-4-103 11-4-104 11-4-105 11-4-106 11-4-107 11-4-108 11-4-109 11-4-110 11-4-111 NextLast modified: October 14, 2016