Montana § 30-4-105 "bank" -- "depositary Bank" -- "intermediary Bank" -- "collecting Bank" -- "payor Bank" -- "presenting Bank"

Montana Statutes

§ 30-4-105 — "bank" -- "depositary Bank" -- "intermediary Bank" -- "collecting Bank" -- "payor Bank" -- "presenting Bank"

Montana·Title 30 TRADE AND COMMERCE·Ch. 4 UNIFORM COMMERCIAL CODE BANK DEPOSITS AND COLLECTIONS·Part 1 General Provisions and Definitions

30-4-105 . "Bank" -- "depositary bank" -- "intermediary bank" -- "collecting bank" -- "payor bank" -- "presenting bank". In this chapter, unless the context otherwise requires:

(1)"bank" means any 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;

(6)"presenting bank" m

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30-4-105 . "Bank" -- "depositary bank" -- "intermediary bank" -- "collecting bank" -- "payor bank" -- "presenting bank". In this chapter, unless the context otherwise requires:
(1) "bank" means any 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;
(6) "presenting bank" means a bank presenting an item except a payor bank.

Montana § 30-4-105 ("bank" -- "depositary Bank" -- "intermediary Bank" -- "collecting Bank" -- "payor Bank" -- "presenting Bank") — published by Counsel Stack Legal Research, free access to 12M+ legal documents.