Kansas Statutes 84-4-105. “Bank”; “depositary bank”; “payor bank”; “intermediary bank”; “collecting bank”; “presenting bank”
Terms Used In Kansas Statutes 84-4-105
- Draft: means a draft as defined in Kan. See Kansas Statutes 84-4-104
- Drawee: means a person ordered in a draft to make payment;
(9) "Item" means an instrument or a promise in order to pay money handled by a bank for collection or payment. See Kansas Statutes 84-4-104
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) “Depository 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 depository 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.