“Depositary bank”; “payor bank”; “intermediary bank”; “collecting bank”; “presenting bank.”

NRS

104.4105

“Depositary bank”; “payor bank”; “intermediary bank”; “collecting bank”; “presenting bank.”

In this Article:

1. “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.

2. “Payor bank” means a bank that is the drawee of a draft.

3. “Intermediary bank” means any bank to which an item is transferred in course of collection except the depositary or payor bank.

4. “Collecting bank” means any bank handling the item for collection except the payor bank.

5. “Presenting bank” means any bank presenting an item except a payor bank.

(Added to NRS by 1965, 842 ; A 1993, 1301 )