There is a newer version
of
this Section
2019 Alaska Statutes
Title 45. Trade and Commerce
Chapter 04. Bank Deposits and Collections
Article 1. General Provisions and Definitions.
Sec. 45.04.105. “Bank”; “depositary bank”; “intermediary bank”; “collecting bank”; “payor bank”; “presenting bank.”
Universal Citation: AK Stat § 45.04.105 (2019)
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;
(2) “collecting bank” means a bank handling an item for collection except the payor bank;
(3) “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;
(4) “intermediary bank” means a bank to which an item is transferred in course of collection except the depositary or payor bank;
(5) “payor bank” means a bank that is the drawee of a draft;
(6) “presenting bank” means a bank presenting an item except a payor bank.
Disclaimer: These codes may not be the most recent version. Alaska may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.
