Depositary Bank; Intermediary Bank; Collecting Bank;

Payor Bank; Presenting Bank; Remitting Bank. In this division unless the context otherwise requires: (a) Depositary bank means the first bank to which an item is transferred for collection even though it is also the payor bank; (b) Payor bank means a bank by which an item is payable as drawn or accepted; (c) Intermediary bank means any bank to which an item is transferred in course of collection except the depositary or payor bank; (d) Collecting bank means any bank handling the item for collection except the payor bank; (e) Presenting bank means any bank presenting an item except a payor bank; (f) Remitting bank means any payor or intermediary bank remitting for an item. (g) Each branch or separate office of a bank shall be deemed a separate bank for the purpose of the definitions in this section.