The Florida Senate

674.1061  Payable through or payable at bank; collecting bank.--

(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:

(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.

(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.

History.--s. 12, ch. 92-82.