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

Montana Code Annotated 2019

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.