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, the item is equivalent to a draft drawn on the bank.