In this article:
(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.
(Acts 1965, No. 549, p. 811; repealed by Acts 1995, No. 95-668, p. 1381, §2; added by Acts 1995, No. 95-668, p. 1381, §2.)
Notes of Decisions
Braden Furniture Co. v. Union State Bank, 109 So. 3d 625 (Ala. 2012).
· cites it 5× “4 Union State Bank, which accepted the checks for payment, is the depository bank or collecting bank, see § 7-4-105(2) and (5). 5 *630 The UCC provides a method to allocate liability among the drawee bank, the depository bank, and the drawers in the event of negotiation of an…”
— Ala. Code § 7-4-105(2) — 1 case
Braden Furniture Co. v. Union State Bank, 109 So. 3d 625 (Ala. 2012).
“4 Union State Bank, which accepted the checks for payment, is the depository bank or collecting bank, see § 7-4-105(2) and (5). 5 *630 The UCC provides a method to allocate liability among the drawee bank, the depository bank, and the drawers in the event of negotiation of an…”
— Ala. Code § 7-4-105(3) — 1 case
Braden Furniture Co. v. Union State Bank, 109 So. 3d 625 (Ala. 2012).
“4 Union State Bank, which accepted the checks for payment, is the depository bank or collecting bank, see § 7-4-105(2) and (5). 5 *630 The UCC provides a method to allocate liability among the drawee bank, the depository bank, and the drawers in the event of negotiation of an…”
— Ala. Code § 7-4-105(5) — 1 case
Braden Furniture Co. v. Union State Bank, 109 So. 3d 625 (Ala. 2012).
“4 Union State Bank, which accepted the checks for payment, is the depository bank or collecting bank, see § 7-4-105(2) and (5). 5 *630 The UCC provides a method to allocate liability among the drawee bank, the depository bank, and the drawers in the event of negotiation of an…”
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