(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 [PL 1993, c. 293, Pt. B, §11 (NEW).] (b). The item may be presented for payment only by or through the bank. [PL 1993, c. 293, Pt. B, §11 (NEW).] [PL 1993, c. 293, Pt. B, §11 (NEW).] (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 that bank. [PL 1993, c. 293, Pt. B, §11 (NEW).] (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. [PL 1993, c. 293, Pt. B, §11 (NEW).]
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