In this title:
(1) "Bank" means a person engaged in the business of banking, including a savings institution, 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 the 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.
1964, c. 219; 1992, c. 693; 2010, c. 794.
Structure Code of Virginia
Title 8.4 - Commercial Code - Bank Deposits and Collections
§ 8.4-103. Variation by agreement; measure of damages; action constituting ordinary care
§ 8.4-104. Definitions and index of definitions
§ 8.4-105.1. Payable through or payable at bank; collecting bank
§ 8.4-106. Separate office of a bank
§ 8.4-107. Time of receipt of items