§ 47-4a105

47-4A105. Other definitions 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 clearing house or other communication system of a clearing house or other

ders and cancellations and amendments of payment orders. 5. ' Funds-transfer system' means a wire transfer network, automated clearing house or other communication system of a clearing house 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. ' Good faith' means honesty in fact and the observance of reasonable commercial standards of fair dealing. 7. ' Prove' with respect to a fact means to meet the burden of establishing the fact (section 47-1201, subsection B, paragraph 8). B. Other definitions applying to this chapter and the sections in which they appear are: 1. ' Acceptance' . Section 47-4A209. 2. ' Beneficiary' . Section 47-4A103. 3. ' Beneficiary's bank' . Section 47-4A103. 4. ' Executed' . Section 47-4A301. 5. ' Execution date' . Section 47-4A301. 6. ' Funds transfer' . Section 47-4A104. 7. ' Funds-transfer system rule' . Section 47-4A501. 8. ' Intermediary bank' . Section 47-4A104. 9. ' Originator' . Section 47-4A104. 10. ' Originator's bank' . Section 47-4A104. 11. ' Payment by beneficiary's bank to beneficiary' . Section 47-4A405. 12. ' Payment by originator to beneficiary' .

9. ' Originator' . Section 47-4A104. 10. ' Originator's bank' . Section 47-4A104. 11. ' Payment by beneficiary's bank to beneficiary' . Section 47-4A405. 12. ' Payment by originator to beneficiary' . Section 47-4A406. 13. ' Payment by sender to receiving bank' . Section 47-4A403. 14. ' Payment date' . Section 47-4A401. 15. ' Payment order' . Section 47-4A103. 16. ' Receiving bank' . Section 47-4A103. 17. ' Security procedure' . Section 47-4A201. 18. ' Sender' . Section 47-4A103. C. The following definitions in chapter 4 of this title apply to this chapter: 1. ' Clearing house' . Section 47-4104. 2. ' Item' . Section 47-4104. 3. ' Suspends payments' . Section 47-4104. D. In addition, chapter 1 of this title contains general definitions and principles of construction and interpretation applicable throughout this chapter.