South Dakota Statutes
§ 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.
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South Dakota § 57A-4-105 ("Bank"--"Collecting bank"--"Depositary bank"--"Intermediary bank"--"Payor bank"--"Presenting bank".) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
SL 1994, ch 368, § 4-105.
Nearby Sections
15
§ 57A-1-101
Short title.§ 57A-1-102
Scope of chapter.§ 57A-1-104
Construction against implied repeal.§ 57A-1-105
Severability.§ 57A-1-106
Use of singular and plural--Gender.§ 57A-1-107
Section captions.§ 57A-1-201
General definitions.§ 57A-1-202
Notice--Knowledge.§ 57A-1-203
Lease distinguished from security interest.§ 57A-1-204
Value.§ 57A-1-205
Reasonable time--Seasonableness.§ 57A-1-206
Presumptions.§ 57A-1-207
Central bank digital currency.