(4-105) Bank - Collecting bank - Depositary bank - Payor bank - Presenting bank
N.D. Cent. Code § 41-04-05
in effect41-04-05. (4-105) Bank - Collecting bank - Depositary bank - Payor bank - Presenting
bank.
In this chapter, unless the context otherwise requires:
1. "Bank" means any person engaged in the business of banking, including a savings
bank, savings and loan association, credit union, or trust company.
2. "Collecting bank" means a bank handling an item for collection except the payor bank.
3. "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.
4. "Intermediary bank" means a bank to which an item is transferred in course of
collection except the depositary or payor bank.
5. "Payor bank" means a bank that is the drawee of a draft.
6. "Presenting bank" means a bank presenting an item except a payor bank.
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://ndlegis.gov/cencode/t41c04.pdf#nameddest=41-04-05Fetched: 10/16/2026