N.Y. Uniform Commercial Code Law Section 4-105
“Depositary Bank”

  • “Intermediary Bank”
  • “Collecting Bank”
  • “Payor Bank”
  • “Presenting Bank”
  • “Remitting Bank”
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.

Source: Section 4-105 — "Depositary Bank"; "Intermediary Bank"; "Collecting Bank"; "Payor Bank"; "Presenting Bank"; "Remitting Bank", https://www.­nysenate.­gov/legislation/laws/UCC/4-105 (updated Sep. 22, 2014; accessed Oct. 26, 2024).

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Accessed:
Oct. 26, 2024

Last modified:
Sep. 22, 2014

§ 4-105’s source at nysenate​.gov

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