Georgia § 11-4-105 - "Bank"; "depositary bank"; "payor bank"; "intermediary bank"; "collecting bank"; "presenting bank."

§ 11-4-105. "Bank"; "depositary bank"; "payor bank"; "intermediary bank"; "collecting bank"; "presenting bank."

In this article: "Bank" means a person engaged in the business of banking, including a savings bank, savings and loan association, credit union, or trust company; "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; "Payor bank" means a bank that is the drawee of a draft; "Intermediary bank" means a bank to which an item is transferred in course of collection except the depositary or payor bank; "Collecting bank" means a bank handling an item for collection except the payor bank; and "Presenting bank" means a bank presenting an item except a payor bank. (Code 1933, § 109A-4 - 105, enacted by Ga. L. 1962, p. 156, § 1; Ga. L. 1996, p. 1306, § 4; Ga. L. 1997, p. 143, § 11.) Code Commission notes. - Pursuant to Code Section 28-9-5, in 1996, the period at the end of section catchline was moved inside the ending quotation marks. Law reviews. - For comment on Trust Co. of Columbus v. Refrigeration Supplies, Inc., 241 Ga. 406 , 246 S.E.2d 282 (1978), discussing liability of collecting and payor banks for payment of check over missing endorsement of copayee, see 13 Ga. L. Rev. 677 (1979).