§ 4-105. "Bank"; "depositary bank"; "payor bank"; "intermediary bank"; "collecting bank"; "presenting bank"

   In this title:

   (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; and

   (6) "Presenting bank" means a bank presenting an item except a payor bank.

HISTORY: An. Code 1957, art. 95B, § 4-105; 1975, ch. 49, § 2; 1996, ch. 91, § 2; 1997, ch. 14, § 1.