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.