§ 4-105

Maryland § 4-105

• Jurisdiction: Maryland
• Article gcl: Commercial Law
• Title: 4

Text

In this title:

(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 an item for collection except the payor bank; and

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