Okla. Stat. tit. 12A, § 12A-4-105
This is the official text of Okla. Stat. tit. 12A, § 12A-4-105, part of Oklahoma’s Stat. tit. 12A, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 12A,." Browse the sections below, each linked to its official government source.
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Definitions of types of banks
Official statutory text
DEFINITIONS OF TYPES OF BANKS
In this article:
(1) Reserved;
(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; and
(6) "Presenting bank" means a bank presenting an item except a
payor bank.
In this article:
(1) Reserved;
(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; and
(6) "Presenting bank" means a bank presenting an item except a
payor bank.
Status: reserved · Read it on the official government site
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