Under the Revised Article 3 of the Uniform Commercial Code, a check deposited in a depositary bank without indorsement makes the:

Multiple Choice

• bank a holder of an item delivered to it only if the customer indorses it.

• bank a holder of an item delivered to it for collection whether or not the customer indorses it.

• customer the holder only if the bank indorses it at the time of delivery.

• customer the holder only if the bank at the time of delivery qualified as a holder.