ORS § 74.1060

Current through 2024 Regular Session legislation effective April 17, 2024
Section 74.1060 - Payable through or payable at bank; collecting bank
(1) If an item states that it is "payable through" a bank identified in the item:
(a) The item designates the bank as a collecting bank and does not by itself authorize the bank to pay the item; and
(b) The item may be presented for payment only by or through the bank.
(2) If an item states that it is "payable at" a bank identified in the item:
(a) The item designates the bank as a collecting bank and does not by itself authorize the bank to pay the item; and
(b) The item may be presented for payment only by or through the bank.
(3) 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.

ORS 74.1060

1961 c.726 § 74.1060; 1963 c.402 §2; 1993 c.545 §77