§ 382-a-4a-105

382-A:4A-105 Other Definitions. – (a) In this Article: (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 Article. (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

nt 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 a payment order by a bank may be transmitted to the bank to which the order is addressed. (6) [Repealed.] (7) 'Prove' with respect to a fact means to meet the burden of establishing the fact (Section 1-201(b)(8)). (b) Other definitions applying to this Article and the sections in which they appear are: 'Acceptance' Section 4A-209. 'Beneficiary' Section 4A-103. 'Beneficiary's bank' Section 4A-103. 'Executed' Section 4A-301. 'Execution date' Section 4A-301. 'Funds transfer' Section 4A-104. 'Funds-transfer system rule' Section 4A-501. 'Intermediary bank' Section 4A-104. 'Originator' Section 4A-104. 'Originator's bank' Section 4A-104. 'Payment by beneficiary's bank to beneficiary' Section 4A-405. 'Payment by originator to beneficiary' Section 4A-406. 'Payment by sender to receiving bank' Section 4A-403. 'Payment date' Section 4A-401. 'Payment order' Section 4A-103. 'Receiving bank' Section 4A-103. 'Security procedure' Section 4A-201.

tion 4A-406. 'Payment by sender to receiving bank' Section 4A-403. 'Payment date' Section 4A-401. 'Payment order' Section 4A-103. 'Receiving bank' Section 4A-103. 'Security procedure' Section 4A-201. 'Sender' Section 4A-103. (c) The following definitions in Article 4 apply to this Article: 'Clearing house' Section 4-104. 'Item' Section 4-104. 'Suspends payments' Section 4-104. (d) In addition Article 1 contains general definitions and principles of construction and interpretation applicable throughout this Article. Source. 1993, 346:7, eff. Jan. 1, 1994. 2006, 169:11, 16, V, eff. Jan. 1, 2007.