674.1061 Payable through or payable at bank; collecting bank. - Florida Statutes

674.1061 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 codrawee or a collecting bank, the bank is a collecting bank.

History. s. 12, ch. 92-82.