Local check means a check payable by or at a local paying bank, or a check payable by a nonbank payor and payable through a local paying bank.
Local check means a check payable by or at a local paying bank, or a check payable by a nonbank payor and payable through a local paying bank.¿ Depositary bank means the first bank to which a check is transferred even though it is also the paying bank or the payee. A check deposited in an account is deemed to be transferred to the bank holding the account into which the check is deposited, even though the check is physically received and indorsed first by another bank. flA bank that rejects a check submitted for deposit is not a depositary bank with respect to that check.fi
Local check means a check
Examples of Local check in a sentence
Local check is defined as a check pay- able by or at a local paying bank, or, in the case of nonbank payors, payable through a local paying bank.