GroundRules
Wis. Stat. § 404.106: Payable through or payable at bank; collecting bank.
Where this section sits in the code
- Chs. 401-411, Uniform Commercial Code
- Chapter 404 Uniform Commercial Code — Bank Deposits And Collections
- SUBCHAPTER I GENERAL PROVISIONS AND DEFINITIONS
(1) If an item states that it is “payable through” a bank identified in the item, the item designates the bank as a collecting bank and does not by itself authorize the bank to pay the item and 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 designates the bank as a collecting bank and does not by itself authorize the bank to pay the item and the item may be presented for payment only by or through the bank.
(3) If a draft names a nonbank drawee and it is unclear whether a bank named in the draft is a codrawee or a collecting bank, the bank is a collecting bank.
Collected 2026-09-05T12:01:22Z. Source file · JSON