California Commercial Code 4105 – In this division:(1) “Bank” means a person engaged in the …
In this division:
(1) “Bank” means a person engaged in the business of banking, including a savings bank, savings and loan association, credit union, or trust company.
Terms Used In California Commercial Code 4105
- Bank: means a person engaged in the business of banking, and includes a savings bank, savings and loan association, credit union, and trust company. See California Commercial Code 1201
- Draft: means a draft as defined in Section 3104 or an item, other than an instrument, that is an order. See California Commercial Code 4104
- Drawee: means a person ordered in a draft to make payment. See California Commercial Code 4104
- Item: means an instrument or a promise or order to pay money handled by a bank for collection or payment. See California Commercial Code 4104
- Person: means an individual, corporation, business trust, estate, trust, partnership, limited liability company, association, joint venture, government, governmental subdivision, agency, or instrumentality, or any other legal or commercial entity. See California Commercial Code 1201
(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.
(Amended by Stats. 1992, Ch. 914, Sec. 11. Effective January 1, 1993.)