United States — Louisiana Act or statute

United States — Louisiana legislation

RS 10:4-106

This section says that a bank named as payable through or payable at is a collecting bank, and the item does not by itself let the bank pay it; payment presentation is only by or through that bank.

collecting bankdraft presentationpayment processing

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“This section says that a bank named as payable through or payable at is a collecting bank, and the item does not by itself let the bank pay it; payment presentation is only by or through that bank.”

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RS 10:4-106

This section says that a bank named as payable through or payable at is a collecting bank, and the item does not by itself let the bank pay it; payment presentation is only by or through that bank.

Section 10:4-106

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§ 10:4-106RS 10:4-106Provision

This section says that a bank named as payable through or payable at is a collecting bank, and the item does not by itself let the bank pay it; payment presentation is only by or through that bank.

§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. Acts 1992, No. 1133, §4, eff. July 1, 1993; Acts 1993, No. 948, §10, eff. Jan. 1, 1994.
Section 10:4-106Verify source

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