Collecting Bank Law and Legal Definition
According to 12 USCS § 5002 (3) (A), [Title 12. Banks and Banking; Chapter 50. Check Truncation] the term collecting bank means “any bank handling a check for collection except the paying bank.”
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According to 12 USCS § 5002 (3) (A), [Title 12. Banks and Banking; Chapter 50. Check Truncation] the term collecting bank means “any bank handling a check for collection except the paying bank.”