COLLECTION

collection. Banking. The process through which an item (such as a check) passes in a payor bank. See payor bank under BANK(1). [Cases: Banks and Banking 156–175. C.J.S. Banks and Banking §§ 317, 319, 322–325, 327, 372–374, 379, 382–400, 402–412, 414, 416, 419–428, 430–432, 434, 437–438.]