N.Y. U.C.C. Law § 4-105

Current through 2024 NY Law Chapters 1-49 and 61-105
Section 4-105 - "Depositary Bank"; "Intermediary Bank"; "Collecting Bank"; "Payor Bank"; "Presenting Bank"; "Remitting Bank"

In this Article unless the context otherwise requires:

(a) "Depositary bank" means the first bank to which an item is transferred for collection even though it is also the payor bank;
(b) "Payor bank" means a bank by which an item is payable as drawn or accepted;
(c) "Intermediary bank" means any bank to which an item is transferred in course of collection except the depositary or payor bank;
(d) "Collecting bank" means any bank handling the item for collection except the payor bank;
(e) "Presenting bank" means any bank presenting an item except a payor bank;
(f) "Remitting bank" means any payor or intermediary bank remitting for an item.

N.Y. U.c.c. Law § 4-105