62A.4-105 - "Bank"; "depositary bank"; "payor bank"; "intermediary bank"; "collecting bank"; "presenting bank". - Washington Statutes

"Bank"; "depositary bank"; "payor bank"; "intermediary bank"; "collecting bank"; "presenting bank".

In this Article:

     (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.

[1993 c 229 § 81; 1965 ex.s. c 157 § 4-105. Cf. former RCW 30.52.010; 1955 c 33 § 30.52.010; prior: 1929 c 203 § 1.]

Notes: Recovery of attorneys' fees -- Effective date -- 1993 c 229: See RCW 62A.11-111 and 62A.11-112.