1. (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. (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. (3) “Payor bank” means a bank that is the drawee of a draft;
4. (4) “Intermediary bank” means a bank to which an item is transferred in course of collection except the depositary or payor bank;
5. (5) “Collecting bank” means a bank handling an item for collection except the payor bank; and
6. (6) “Presenting bank” means a bank presenting an item except a payor bank.

In this title:

Added by Acts 1975, c. 49, § 2, eff. July 1, 1975. Amended by Acts 1996, c. 91, § 2, eff. Jan. 1, 1997; Acts 1997, c. 14, § 1, eff. April 8, 1997.

Formerly Art. 95B, § 4-105.