47-4105. "Bank"; "depositary bank"; "payor
bank"; "intermediary bank"; "collecting 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 any bank presenting an item except a payor bank.