§ 30-4-201 Presumption and duration of agency status of collecting banks and provisional status of credits — applicability of chapter — item endorsed “pay any bank”
§ 30-4-202 Responsibility for collection or return — when action timely
§ 30-4-203 Effect of instructions
§ 30-4-204 Methods of sending and presenting — sending directly to payor bank
§ 30-4-205 Depositary bank holder of unindorsed item
§ 30-4-206 Transfer between banks
§ 30-4-207 Transfer warranties
§ 30-4-208 Security interest of collecting bank in items, accompanying documents, and proceeds
§ 30-4-209 When bank gives value for purposes of holder in due course
§ 30-4-210 Presentment by notice of item not payable by, through, or at a bank — liability of secondary parties
§ 30-4-211 Medium and time of settlement by bank
§ 30-4-212 Right of charge-back or refund — liability of collecting bank — return of item
§ 30-4-213 Final payment of item by payor bank — when provisional debits and credits become final — when certain credits become available for withdrawal
§ 30-4-214 Insolvency and preference
§ 30-4-215 Presentment warranties
§ 30-4-216 Encoding and retention warranties
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Terms Used In Montana Code > Title 30 > Chapter 4 > Part 2 - Collection of Items Depositary and Collecting Banks

  • 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

  • Continuance: Putting off of a hearing ot trial until a later time.
  • Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
  • Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • Person: includes a corporation or other entity as well as a natural person. See Montana Code 1-1-201
  • Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
  • Several: means two or more. See Montana Code 1-1-201
  • Statute: A law passed by a legislature.
  • Trustee: A person or institution holding and administering property in trust.