NRS 104A.4105 Other definitions.

407 words·~2 min read·/nv/chapter-104a-uniform-commercial-code-additional-articles/104a-4105

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

1. In this Article:

(a)“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.

(b)“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.

(c)“Customer” means a person, including a bank, having an account with a bank or from whom a bank has agreed to receive payment orders.

(d)“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.

(e)“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.

(f)“Prove” with respect to a fact means to meet the burden of establishing the fact (paragraph

(h)of subsection 2 of NRS 104.1201 ).

2. Other definitions applying to this Article and the sections in which they appear are:

“Acceptance.” NRS 104A.4209 .

“Beneficiary.” NRS 104A.4103 .

“Beneficiary’s bank.” NRS 104A.4103 .

“Executed.” NRS 104A.4301 .

“Execution date.” NRS 104A.4301 .

“Funds transfer.” NRS 104A.4104 .

“Funds-transfer system rule.” NRS 104A.4501 .

“Intermediary bank.” NRS 104A.4104 .

“Originator.” NRS 104A.4104 .

“Originator’s bank.” NRS 104A.4104 .

“Payment by beneficiary’s bank to beneficiary.” NRS 104A.4405 .

“Payment by originator to beneficiary.” NRS 104A.4406 .

“Payment by sender to receiving bank.” NRS 104A.4403 .

“Payment date.” NRS 104A.4401 .

“Payment order.” NRS 104A.4103 .

“Receiving bank.” NRS 104A.4103 .

“Security procedure.” NRS 104A.4201 .

“Sender.” NRS 104A.4103 .

3. The following definitions in Article 4 apply to this Article:

“Clearing house.” NRS 104.4104 .

“Item.” NRS 104.4104 .

“Suspends payments.” NRS 104.4104 .

4. In addition Article 1 contains general definitions and principles of construction and interpretation applicable throughout this Article.