1. MCA Contents
  2. TITLE 30
  3. CHAPTER 4
  4. Part 1
  5. 30-4-110 Payable through or payable at bank -- collecting bank

TITLE 30. TRADE AND COMMERCE

CHAPTER 4. UNIFORM COMMERCIAL CODE BANK DEPOSITS AND COLLECTIONS

Part 1. General Provisions and Definitions

Payable Through Or Payable At Bank -- Collecting Bank

30-4-110. Payable through or payable at bank -- collecting bank. (1) If an item states that it is "payable through" a bank identified in the item:

(a) the item designates the bank as a collecting bank and does not by itself authorize the bank to pay the item; and

(b) the item may be presented for payment only by or through the bank.

(2) If an item states that it is "payable at" a bank identified in the item, the item is drawn on the bank.

History: En. Sec. 159, Ch. 410, L. 1991.