Tenn. Code Ann. § 47-4-105

“Bank” — “Depositary bank”— “Payor bank” — “Intermediary bank” — “Collecting bank”— “Presenting bank.”

Known as the Uniform Commercial Code

The act spans §§ 47–47 (578 sections).

Applied in 2 court decisions — leading case 21 F. Supp. 2d 785 - Lawyers Title Insurance v. United American Bank of Memphis (1998)

Most recently applied in C-Wood Lumber Co. v. Wayne County Bank (January 2007)

Acts 1963, ch. 81, § 1 (4-105); Acts 1995, ch. 397, § 3.

In this chapter:

(1) “Bank” means a person engaged in the business of banking, including a savings bank, savings and loan association, credit union, or trust company.

(2) “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;

(3) “Payor bank” means a bank that is the drawee of a draft;

(4) “Intermediary bank” means a bank to which an item is transferred in course of collection except the depositary or payor bank;

(5) “Collecting bank” means a bank handling an item for collection except the payor bank;

(6) “Presenting bank” means a bank presenting an item except a payor bank.

Current official text: Tennessee Code (LexisNexis). Digitized from the UniCourt Code Improvement Commission public-domain capture. Reproduced from public-domain Tennessee statutes; confirm against the official source for the current text. Not legal advice.