P.R. Laws tit. 19, § 805
In §§ 801-1004 of this title:
(1) Bank. — Means a person engaged in the business of banking, including a savings bank, a savings and loan association, a savings and loan union or cooperative or a trust company.
(2) Depository 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 depository or payor bank.
(5) Collecting bank. — Means a bank handling an item for collection except the payor bank.
(6) Presenting bank. — Means a bank presenting an item except a payor bank.
History —Aug. 17, 1995, No. 208, § 3-105; Aug. 31, 1996, No. 176, § 3.