"Bank"; "depositary bank"; "intermediary bank"; "collecting bank"; "payor bank"; "presenting bank."

In this title: (1) "Bank" means a person engaged in the business of banking, including a savings institution, 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 the 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. 1964, c. 219; 1992, c. 693; 2010, c. 794 .