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) “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.
History. Acts 1961, No. 185, § 4-105; 1967, No. 303, § 12 (4-105); A.S.A. 1947, § 85-4-105; Acts 1991, No. 572, § 6; 2005, No. 856, § 44.
Structure Arkansas Code
Title 4 - Business and Commercial Law
Subtitle 1 - Uniform Commercial Code
Chapter 4 - Bank Deposits and Collections
Part 1 - General Provisions and Definitions
§ 4-4-103. Variation by agreement — Measure of damages — Action constituting ordinary care
§ 4-4-104. Definitions and index of definitions
§ 4-4-105. Definitions of types of banks
§ 4-4-106. Payable through or payable at bank — Collecting bank
§ 4-4-107. Separate office of a bank
§ 4-4-108. Time of receipt of items