§ 4105. "Bank"; "depositary bank"; "intermediary bank";
"collecting bank"; "payor bank"; "presenting bank." The following words and phrases when used in this division shall have the meanings given to them in this section: "Bank." A person engaged in the business of banking, including a savings bank, savings and loan association, credit union or trust company. "Collecting bank." A bank handling an item for collection except the payor bank. "Depositary bank." 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. "Intermediary bank." A bank to which an item is transferred in course of collection except the depositary or payor bank. "Payor bank." A bank that is the drawee of a draft. "Presenting bank." A bank presenting an item except a payor bank. (July 9, 1992, P.L.507, No.97, eff. one year; June 8, 2001, P.L.123, No.18, eff. July 1, 2001)
2001 Amendment. Act 18 amended the intro. par.
Cross References. Section 4105 is referred to in sections 3103, 4104 of this title.
Structure Pennsylvania Consolidated & Unconsolidated Statutes
Pennsylvania Consolidated & Unconsolidated Statutes
Chapter 41 - General Provisions and Definitions
Section 4101 - Short title of division
Section 4103 - Variation by agreement; measure of damages; action constituting ordinary care
Section 4104 - Definitions and index of definitions
Section 4106 - Payable through or payable at bank; collecting bank
Section 4107 - Separate office of a bank
Section 4108 - Time of receipt of items