Montana Code > Title 30 > Chapter 4 > Part 5 – Collection of Documentary Drafts


§ 30-4-501	Handling of documentary drafts — duty to send for presentment and to notify customer of dishonor
§ 30-4-502	Presentment of “on arrival” drafts
§ 30-4-503	Responsibility of presenting bank for documents and goods — report of reasons for dishonor — referee in case of need
§ 30-4-504	Privilege of presenting bank to deal with goods — security interest for expenses

bank: means any 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. See Montana Code 30-4-105
Lien: A claim against real or personal property in satisfaction of a debt.
Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.