§ 45-14-105

(a) In this chapter, (1) 'authorized account' means a deposit account of a customer in a bank designated by the customer as a source of payment of payment orders issued by the customer to the bank; if a customer does not so designate an account, any account of the customer is an authorized account if payment of a payment order from that account is not inconsistent with a restriction on the use of that account; (2) 'bank' means a person engaged in the business of banking and includes a savings bank, savings and loan association, credit union, and trust company; a branch or separate office of a bank is a separate bank for purposes of this chapter; (3) 'customer' means a person, including a bank, having an account with a bank or from whom a bank has agreed to receive payment orders; (4) 'funds-transfer business day' of a receiving bank means the part of a day during which the receiving bank is open for the receipt, processing, and transmittal of payment orders and cancellations and amendments of payment orders; (5) 'funds-transfer system' means a wire transfer network, automated clearinghouse, or other communication system of a clearinghouse or other association of banks through

mendments of payment orders; (5) 'funds-transfer system' means a wire transfer network, automated clearinghouse, or other communication system of a clearinghouse or other association of banks through which a payment order by a bank may be transmitted to the bank to which the order is addressed; (6) [Repealed, § 113 ch 44 SLA 2009.] (7) 'prove,' with respect to a fact, means to meet the burden of establishing the fact; 'burden of establishing' has the meaning given in AS 45.01.211. (b) Other definitions applying to this chapter and the sections in which they appear are (1) 'acceptance' in AS 45.14.209; (2) 'executed' in AS 45.14.301; (3) 'execution date' in AS 45.14.301; (4) 'funds-transfer system rule' in AS 45.14.501; (5) 'payment by beneficiary's bank to beneficiary' in AS 45.14.405; (6) 'payment by originator to beneficiary' in AS 45.14.406; (7) 'payment by sender to receiving bank' in AS 45.14.403; (8) 'payment date' in AS 45.14.401; (9) 'security procedure' in AS 45.14.201. (c) The following definitions in AS 45.04.104 apply to this chapter: (1) 'clearinghouse'; (2) 'item'; (3) 'suspends payments'.

payment date' in AS 45.14.401; (9) 'security procedure' in AS 45.14.201. (c) The following definitions in AS 45.04.104 apply to this chapter: (1) 'clearinghouse'; (2) 'item'; (3) 'suspends payments'. (d) In addition, AS 45.01 contains general definitions and principles of construction and interpretation applicable throughout this chapter.