Statute · New York Uniform Commercial Code

N.Y. U.C.C. Law § 4-105 — "Depositary Bank"; "Intermediary Bank"; "Collecting Bank"; "Payor Bank"; "Presenting Bank"; "Remitting Bank"

N.Y. U.C.C. Law § 4-105

Type: Statute
Source: New York Uniform Commercial Code
Jurisdiction: New York
Current through: Nov 4, 2026 (NY Senate Open Legislation)

Section 4--105. "Depositary Bank"; "Intermediary Bank"; "Collecting

Citator

N.Y. U.C.C. Law § 4-105 — "Depositary Bank"; "Intermediary Bank"; "Collecting Bank"; "Payor Bank"; "Presenting Bank"; "Remitting Bank" is in force in the current edition of the Code, and nothing recorded condemns it.

Section 4--105. "Depositary Bank"; "Intermediary Bank"; "Collecting

Bank"; "Payor Bank"; "Presenting Bank"; "Remitting

Bank".

In this Article unless the context otherwise requires:

(a) "Depositary bank" means the first bank to which an item is transferred for collection even though it is also the payor bank;

(b) "Payor bank" means a bank by which an item is payable as drawn or accepted;

(c) "Intermediary bank" means any bank to which an item is transferred in course of collection except the depositary or payor bank;

(d) "Collecting bank" means any bank handling the item for collection except the payor bank;

(e) "Presenting bank" means any bank presenting an item except a payor bank;

(f) "Remitting bank" means any payor or intermediary bank remitting for an item.