§ 36-4a-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 clearing house, or other communication system of a clearing house or other association of banks through

ndments 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 (Section 36-1-201(b)(8)). (b) Other definitions applying to this chapter and the sections in which they appear are: 'Acceptance' Section 36-4A-209 'Beneficiary' Section 36-4A-103 'Beneficiary's bank' Section 36-4A-103 'Executed' Section 36-4A-301 'Execution date' Section 36-4A-301 'Funds transfer' Section 36-4A-104 'Funds-transfer system rule' Section 36-4A-501 'Intermediary bank' Section 36-4A-104 'Originator' Section 36-4A-104 'Originator's bank' Section 36-4A-104 'Payment by beneficiary's bank to beneficiary' Section 36-4A-405 'Payment by originator to beneficiary' Section 36-4A-406 'Payment by sender to receiving bank' Section 36-4A-403 'Payment date' Section 36-4A-401 'Payment order' Section 36-4A-103 'Receiving bank' Section 36-4A-103 'Security procedure' Section 36-4A-201 'Sender'

nt by sender to receiving bank' Section 36-4A-403 'Payment date' Section 36-4A-401 'Payment order' Section 36-4A-103 'Receiving bank' Section 36-4A-103 'Security procedure' Section 36-4A-201 'Sender' Section 36-4A-103 (c) The following definitions in Chapter 4 apply to this chapter: 'Clearing house' Section 36-4-104 'Item' Section 36-4-104 'Suspends payments' Section 36-4-104 (d) In addition, Chapter 1 contains general definitions and principles of construction and interpretation applicable throughout this chapter. HISTORY: 1996 Act No. 221, Section 1; 2014 Act No. 213 (S.343), Section 27, eff October 1, 2014.