Idaho Code 28-4-106 – Payable Through or Payable At Bank — Collecting Bank
Current as of: 2023 | Check for updates
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(1) If an item states that it is “payable through” a bank identified in the item, (i) the item designates the bank as a collecting bank and does not by itself authorize the bank to pay the item, and (ii) the item may be presented for payment only by or through the bank.
(2) If an item states that it is “payable at” a bank identified in the item, (i) the item designates the bank as a collecting bank and does not by itself authorize the bank to pay the item, and (ii) the item may be presented for payment only by or through the bank.
Terms Used In Idaho Code 28-4-106
- 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
(3) If a draft names a nonbank drawee and it is unclear whether a bank named in the draft is a codrawee or a collecting bank, the bank is a collecting bank.