- Alaska Statutes.
- Title 45. Trade and Commerce
- Chapter 4. Bank Deposits and Collections
- Section 106. Payable Through or Payable at Bank; Collecting Bank.
previous: Section 105
. "Bank"; "Depositary Bank"; "Intermediary Bank"; "Collecting Bank"; "Payor Bank"; "Presenting Bank.".
next: Section 107
. Separate Office of a Bank.
AS 45.04.106. Payable Through or Payable at Bank; Collecting Bank.
- (a) If an item states that it is "payable through" a bank identified in the item, the item designates the bank as a
collecting bank and does not by itself authorize the bank to pay the item, and 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, the item is equivalent to a draft drawn on
- (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.
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