Delaware Code Title 6 Sec. 4-105 – “Bank”; “depositary bank”; “payor bank”; “intermediary bank”; …
In this Article:
(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) “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.
5A Del. C. 1953, §§ ?4-105; 55 Del. Laws, c. 349; 70 Del. Laws, c. 86, § ?4;
Terms Used In Delaware Code Title 6 Sec. 4-105
- Draft: means a draft as defined in Section 3-104 or an item, other than an instrument, that is an order. See Delaware Code Title 6 Sec. 4-104
- Drawee: means a person ordered in a draft to make payment. See Delaware Code Title 6 Sec. 4-104
- Item: means an instrument or a promise or order to pay money handled by a bank for collection or payment. See Delaware Code Title 6 Sec. 4-104
- Person: means a natural person, partnership (whether general or limited), limited liability company, trust (including a common law trust, business trust, statutory trust, voting trust or any other form of trust), estate, association (including any group, organization, co-tenancy, plan, board, council or committee), corporation, government (including a country, state, county or any other governmental subdivision, agency or instrumentality), custodian, nominee or any other individual or entity (or series thereof) in its own or any representative capacity, in each case, whether domestic or foreign. See Delaware Code Title 6 Sec. 17-101