§ 25-4a-105

\n(a) In this Article:\n(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.\n(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.\n(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.\n(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.\n(5) 'Funds-transfer system' means a wire transfer network, automated clearinghouse, or other communication system of a clearinghouse or

ent orders and cancellations and amendments of payment orders.\n(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of banks through which a payment order by a bank may be transmitted to the bank to which the order is addressed.\n(6) Repealed by Session Laws 2006-112, s. 15, effective October 1, 2006.\n(7) 'Prove' with respect to a fact means to meet the burden of establishing the fact (G.S. 25-1-201(b)(8)).\n(b) Other definitions applying to this Article and the sections in which they appear are:\n'Acceptance' G.S. 25-4A-209\n'Beneficiary' G.S. 25-4A-103\n'Beneficiary's bank' G.S. 25-4A-103\n'Executed' G.S. 25-4A-301\n'Execution date' G.S. 25-4A-301\n'Funds transfer' G.S. 25-4A-104\n'Funds-transfer system rule' G.S. 25-4A-501\n'Intermediary bank' G.S. 25-4A-104\n'Originator' G.S. 25-4A-104\n'Originator's bank' G.S. 25-4A-104\n'Payment by beneficiary's bank to beneficiary' G.S. 25-4A-405\n'Payment by originator to beneficiary' G.S. 25-4A-406\n'Payment by sender to receiving bank' G.S. 25-4A-403\n'Payment date' G.S. 25-4A-401\n'Payment order' G.S. 25-4A-103\n'Receiving bank' G.S.

-405\n'Payment by originator to beneficiary' G.S. 25-4A-406\n'Payment by sender to receiving bank' G.S. 25-4A-403\n'Payment date' G.S. 25-4A-401\n'Payment order' G.S. 25-4A-103\n'Receiving bank' G.S. 25-4A-103\n'Security procedure' G.S. 25-4A-201\n'Sender' G.S. 25-4A-103.\n(c) The following definitions in Article 4 apply to this Article:\n'Clearing house' G.S. 25-4-104\n'Item' G.S. 25-4-104\n'Suspends payments' G.S. 25-4-104.\n(d) In addition, Article 1 of this Chapter contains general definitions and principles of construction and interpretation applicable throughout this Article. (1993, c. 157, s. 1; 2006-112, ss. 15, 16.)