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Paying bank

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Definition Edit

The paying bank is

(i) the bank by which a check is payable, unless the check is payable at or through another bank and is sent to the other bank for payment or collection; or

(ii) the bank at or through which a check is payable and to which the check is sent for payment or collection.[1]

References Edit

  1. 12 U.S.C. §5002(3)(3)(C).

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