400.4-105. Bank--depositary bank--payor bank--intermediary bank--collecting bank--presenting bank. - Missouri Statutes

Bank--depositary bank--payor bank--intermediary bank--collectingbank--presenting bank.

400.4-105. In this article:

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

(2) "Depositary bank" means the first bank to take an itemeven though it is also the payor bank, unless the item ispresented for immediate payment over the counter;

(3) "Payor bank" means a bank that is the drawee of adraft;

(4) "Intermediary bank" means a bank to which an item istransferred in course of collection except the depositary orpayor bank;

(5) "Collecting bank" means a bank handling an item forcollection except the payor bank;

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

(L. 1963 p. 503 § 4-105, A.L. 1992 S.B. 448)