§ 4A-105. 4A-105
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/us/ucc/a4A/s4A-105A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(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 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 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 tobeneficiary " 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 " 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.
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§ 4A-105
4A-105
Fed. Reg.×1
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