Ky. Rev. Stat. § 355.4-105

Current through 2024 Ky. Acts ch. 225

Section 355.4-105 - "Depositary bank" - "Payor bank" - "Intermediary bank" - "Collecting bank" - "Presenting bank

In this article:

(1) (Reserved);

(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 the item for collection except the payor bank; and

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

KRS 355.4-105

Effective:7/12/2006
Amended 2006, Ky. Acts ch. 242, sec. 46, effective7/12/2006. -- Amended 1996, Ky. Acts ch. 130, sec. 76, effective 1/1/1997. -- Created 1958 Ky. Acts ch. 77, sec. 4-105, effective 7/1/1960.