Idaho Code 28-4-105 – “Bank” — “Depositary Bank” — “Intermediary Bank” — “Collecting Bank” — “Payor Bank” — “Presenting Bank.”
Current as of: 2023 | Check for updates
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In this chapter:
(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 Idaho Code 28-4-105
- Draft: means a draft as defined in section 28-3-104 or an item, other than an instrument, that is an order;
Idaho Code 28-4-104Drawee: means a person ordered in a draft to make payment;
Idaho Code 28-4-104Item: means an instrument or a promise or order to pay money handled by a bank for collection or payment. See Idaho Code 28-4-104 person: includes a corporation as well as a natural person;
Idaho Code 73-114
(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 the item for collection except the payor bank;
(6) “Presenting bank” means a bank presenting an item except a payor bank.