(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: (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. (3) If a draft names a nonbank drawee and it is unclear whether a bank named in the draft is a codrawee or a collecting bank, the bank is a collecting bank.
‹ Prev All Florida sections Next ›
Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.