pay any bank

pay any bank
An indorsement upon a check or similar item delivered for collection. 10 Am J2d Bks § 694. A form of restrictive indorsement. 11 Am J2d B & N § 362. Under the provisions of the Uniform Commercial Code, after an item has been indorsed with the words "pay any bank" or the like, only a bank may acquire the rights of a holder until (a) the item has been returned to the customer initiating collection; or (b) the item has been specially endorsed by a bank to a person who is not a bank. UCC § 4-201(2).

Ballentine's law dictionary. . 1998.

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