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paying bank

Defined in 1 dictionary — U.S. Code

United States Code

12 U.S.C. § 5002 — for purposes of this chapter

The term “paying bank” means—

(i) the bank by which a check is payable, unless the check is payable at or through another bank and is sent to the other bank for payment or collection; or

(ii) the bank at or through which a check is payable and to which the check is sent for payment or collection.