Terms Used In Montana Code 30-4-205

• account: means any deposit or credit account with a bank and includes a demand, time, savings, passbook, share draft, or like account, other than an account evidenced by a certificate of deposit;

  (b)"afternoon" means the period of a day between noon and midnight;

  (c)"banking day" means the part of a day on which a bank is open to the public for carrying on substantially all of its banking functions;

  (d)"clearinghouse" means an association of banks or other payors regularly clearing items;

  (e)"customer" means a person having an account with a bank or for whom a bank has agreed to collect items and includes a bank maintaining an account at another bank;

  (f)"documentary draft" means a draft to be presented for acceptance or payment if specified documents, certificated securities (30-8-112) or instructions for uncertificated securities (30-8-112), or other certificates, statements, or the like are to be received by the drawee or other payor before acceptance or payment of the draft;

  (g)"draft" means a draft as defined in 30-3-104 or an item, other than an instrument, that is an order;

  (h)"item" means an instrument or a promise or an order to pay money handled by a bank for collection or payment. See Montana Code 30-4-104

• bank: means any 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. See Montana Code 30-4-105