4-4-106. Payable through or payable at bank — Collecting bank.

Arkansas Code — all titles (historical 2020) · legal_authorities

4-4-106. Payable through or payable at bank — Collecting bank.

4-4-106. Payable through or payable at bank — Collecting bank. (a) If an item states that it is “payable through” a bank identified in the item, (i) the item designates the bank as a collecting bank and does not by itself authorize the bank to pay the item, and (ii) the item may be presented for payment only by or through the bank. (b) If an item states that it is “payable at” a bank identified in the item, (i) the item designates the bank as a collecting bank and does not by itself authorize the bank to pay the item, and (ii) the item may be presented for payment only by or through the bank. (c) If a draft names a nonbank drawee and it is unclear whether a bank named in the draft is a co-drawee or a collecting bank, the bank is a collecting bank.

Source: Arkansas Code — historical release 78 (November 6, 2020) · 4-4-106

Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. A text match is a research starting point; applicability is not established.