State Codes and Statutes

Statutes > South-dakota > Title-57a > Chapter-04 > Statute-57a-4-105

57A-4-105. "Bank"--"Collecting bank"--"Depositary bank"--"Intermediary 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) "Collecting bank" means a bank handling an item for collection except the payor bank;
(3) "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;
(4) "Intermediary bank" means a bank to which an item is transferred in course of collection except the depositary or payor bank;
(5) "Payor bank" means a bank that is the drawee of a draft;
(6) "Presenting bank" means a bank presenting an item except a payor bank.

Source: SL 1994, ch 368, § 4-105.