South Dakota § 57A-4-106 Payable through or payable at bank--Collecting bank.

South Dakota Statutes

§ 57A-4-106 — Payable through or payable at bank--Collecting bank.

South Dakota·Title 57A UNIFORM COMMERCIAL CODE·Ch. 57A-4 BANK DEPOSITS AND COLLECTIONS

(a)If an item states that it is "payable through" a bank identified in the item, (i) the item designates the bank as a collecting bank and does not by itself authorize the bank to pay the item, and (ii) the item may be presented for payment only by or through the bank.

(b)If an item states that it is "payable at" a bank identified in the item, the item is equivalent to a draft drawn on the bank.

Free access — add to your briefcase to read the full text and ask questions with AI

(a) If an item states that it is "payable through" a bank identified in the item, (i) the item designates the bank as a collecting bank and does not by itself authorize the bank to pay the item, and (ii) the item may be presented for payment only by or through the bank. (b) If an item states that it is "payable at" a bank identified in the item, the item is equivalent to a draft drawn on the bank.

South Dakota § 57A-4-106 (Payable through or payable at bank--Collecting bank.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.