§ 47-4A-105. Other Definitions

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 payment order by a bank may be transmitted to the bank to which the order is addressed;
6. “Good faith” means honesty in fact and the observance of reasonable commercial standards of fair dealing; and
7. “Prove” with respect to a fact means to meet the burden of establishing the fact (§ 47-1-201(b)(8)).

“Acceptance”  § 47-4A-209

“Beneficiary”  § 47-4A-103

“Beneficiary’s bank”  § 47-4A-103

“Executed”  § 47-4A-301

“Execution date”  § 47-4A-301

“Funds transfer”  § 47-4A-104

“Funds-transfer system rule”  § 47-4A-501

“Intermediary bank”  § 47-4A-104

“Originator”  § 47-4A-104

“Originator’s bank”  § 47-4A-104

“Payment by beneficiary’s bank to beneficiary”  § 47-4A-405

“Payment by originator to beneficiary”  § 47-4A-406

“Payment by sender to receiving bank”  § 47-4A-403

“Payment date”  § 47-4A-401

“Payment order”  § 47-4A-103

“Receiving bank”  § 47-4A-103

“Security procedure”  § 47-4A-201

“Sender”  § 47-4A-103

“Clearinghouse”  § 47-4-104

“Item”  § 47-4-104

“Suspends payments”  § 47-4-104