28-4-105 "BANK" -- "DEPOSITARY BANK" -- "INTERMEDIARY BANK" -- "COLLECTING BANK" -- "PAYOR BANK" -- "PRESENTING BANK." - Idaho Statutes

TITLE 28

COMMERCIAL TRANSACTIONS

CHAPTER 4

UNIFORM COMMERCIAL CODE -- BANK DEPOSITS AND COLLECTIONS

PART 1.

GENERAL PROVISIONS AND DEFINITIONS

28-4-105. "Bank" -- "Depositary bank" -- "Intermediary bank" -- "Collecting bank" -- "Payor bank" -- "Presenting bank." In this chapter:

(1) "Bank" means a person engaged in the business of banking, including a savings bank, savings and loan association, credit union or trust company;

(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;

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