§ 75-4a-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 which a

ts 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) [Reserved](7) 'Prove' with respect to a fact means to meet the burden of establishing the fact (Section 75-1-201(b)(8)).(b) Other definitions applying to this chapter and the sections in which they appear are: 'Acceptance' Section 75-4A-209'Beneficiary' Section 75-4A-103'Beneficiary's bank' Section 75-4A-103'Executed' Section 75-4A-301'Execution date' Section 75-4A-301'Funds transfer' Section 75-4A-104'Funds-transfer system rule' Section 75-4A-501'Intermediary bank' Section 75-4A-104'Originator' Section 75-4A-104'Originator's bank' Section 75-4A-104'Payment by beneficiary'sbank to beneficiary' Section 75-4A-405'Payment by originator tobeneficiary' Section 75-4A-406'Payment by sender toreceiving bank' Section 75-4A-403'Payment date' Section 75-4A-401'Payment order' Section 75-4A-103'Receiving bank' Section 75-4A-103'Security procedure' Section 75-4A-201'Sender' Section 75-4A-103(c) The following

' Section 75-4A-403'Payment date' Section 75-4A-401'Payment order' Section 75-4A-103'Receiving bank' Section 75-4A-103'Security procedure' Section 75-4A-201'Sender' Section 75-4A-103(c) The following definitions in Title 75, Chapter 4, apply to this chapter: 'Clearinghouse' Section 75-4-104'Item' Section 75-4-104'Suspends payments' Section 75-4-104(d) In addition Title 75, Chapter 1, contains general definitions and principles of construction and interpretation applicable throughout this chapter.Laws, 1991, ch. 316, § 1; Laws, 2010, ch. 506, § 34, eff. 7/1/2010.