Section 355.4-106 - 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 equivalent to a draft drawn on the bank.(3) 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.Effective:1/1/1997
Repealed, reenacted, renumbered as KRS 355.4-107, and amended, 1996, Ky. Acts ch. 130, sec. 78, effective1/1/1997. -- Amended 1964 Ky. Acts ch. 130, sec. 7, effective 7/1/1964. -- Created 1958 Ky. Acts ch. 77, sec. 4-106, effective 7/1/1960.
Created 1996, Ky. Acts ch. 130, sec. 77, effective1/1/1997.