The Vermont Statutes Online
The Vermont Statutes Online have been updated to include the actions of the 2023 session of the General Assembly.
NOTE: The Vermont Statutes Online is an unofficial copy of the Vermont Statutes Annotated that is provided as a convenience.
Title 9A : Uniform Commercial Code
Article 004 : Bank Deposits and Collections
(Cite as: 9A V.S.A. § 4-106)-
§ 4—106. Payable through or payable at bank; collecting bank
(a) If an item states that it is “payable through” a bank identified in the item, (i) the item designates the bank as a collecting bank and does not by itself authorize the bank to pay the item, and (ii) the item may be presented for payment only by or through the bank.
(b) If an item states that it is “payable at” a bank identified in the item, the item is equivalent to a draft drawn on the bank.
(c) If a draft names a nonbank drawee and it is unclear whether a bank named in the draft is a co-drawee or a collecting bank, the bank is a collecting bank. (Added 1993, No. 158 (Adj. Sess.), § 13, eff. Jan. 1, 1995.)
