Alaska Statutes 45.04.106 – Payable through or payable at bank; collecting bank

(a) If an item states that it is “payable through” a bank identified in the item, the item designates the bank as a collecting bank and does not by itself authorize the bank to pay the item, and the item may be presented for payment only by or through the bank.

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Terms Used In Alaska Statutes 45.04.106

draft: means a draft as defined in Alaska Stat. See Alaska Statutes 45.04.104
drawee: means a person ordered in a draft to make payment. See Alaska Statutes 45.04.104
item: means an instrument or a promise or order to pay money handled by a bank for collection or payment. See Alaska Statutes 45.04.104

(b) If an item states that it is “payable at” a bank identified in the item, the item is equivalent to a draft drawn on the bank.

(c) If a draft names a nonbank drawee and it is unclear whether a bank named in the draft is a co-drawee or a collecting bank, the bank is a collecting bank.

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