Michigan § 440.4105 - Additional definitions.
Full text of Michigan Michigan Compiled Laws § 440.4105 — Additional definitions., with citation guidance and answers to common questions.
§ 440.4105. Additional definitions.
As used in this article unless the context otherwise requires:
"Bank" means a person engaged in the business of banking, including a saving bank, saving 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 the item for collection except the payor bank.
"Presenting bank" means a bank presenting an item except a payor bank.
Frequently Asked Questions About Michigan § 440.4105
What does Michigan Compiled Laws § 440.4105 cover?
Section 440.4105 ("Additional definitions.") is part of the Michigan Compiled Laws, the codified statutory law of Michigan. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Michigan § 440.4105?
A common citation format is "Michigan Compiled Laws § 440.4105" (Michigan). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Michigan law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Michigan official source linked on this page or consult a licensed Michigan attorney.
How does Michigan § 440.4105 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Michigan can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Michigan.