(a) In this title: (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 title. (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 association of banks through which s 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) Reserved. (7) 'Prove' with respect to a fact means to meet the burden of establishing the fact (§ 1–208(b)(8)). (b) Other definitions applying to this title and the sections in which they appear are: 'Acceptance' § 4A–209 'Beneficiary' § 4A–103 'Beneficiary’s bank' § 4A–103 'Executed' § 4A–301 'Execution date' § 4A–301 'Funds transfer' § 4A–104 'Funds–transfer system rule' § 4A–501 'Intermediary bank' § 4A–104 'Originator' § 4A–104 'Originator’s bank' § 4A–104 'Payment by beneficiary’s bank to § 4A–405 beneficiary' 'Payment by originator to beneficiary' § 4A–406 'Payment by sender to receiving bank' § 4A–403 'Payment date' § 4A–401 'Payment order' § 4A–103 'Receiving bank' § 4A–103 'Security procedure' § 4A–201 'Sender' § 4A–103 (c) The following definitions in Title 4 of this article apply to this title: 'Clearing house' § 4–104 'Item' § 4–104 'Suspends payments' § 4–104 (d) In addition, rocedure' § 4A–201 'Sender' § 4A–103 (c) The following definitions in Title 4 of this article apply to this title: 'Clearing house' § 4–104 'Item' § 4–104 'Suspends payments' § 4–104 (d) In addition, Title 1 of this article contains general definitions and principles of construction and interpretation applicable throughout this title.
Maryland Legal Code