RCW 62A.4A-105
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/wa/title-62a/chapter-62a-4a/62a-4a-105·A 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 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)[Reserved.]
(7)"Prove" with respect to a fact means to meet the burden of establishing the fact (RCW 62A.1-201 (b)(8)).
(b)Other definitions applying to this Article and the sections in which they appear are:
"Acceptance"
RCW 62A.4A-209
"Beneficiary"
RCW 62A.4A-103
"Beneficiary's bank"
RCW 62A.4A-103
"Executed"
RCW 62A.4A-301
"Execution date"
RCW 62A.4A-301
"Funds transfer"
RCW 62A.4A-104
"Funds-transfer system rule"
RCW 62A.4A-501
"Intermediary bank"
RCW 62A.4A-104
"Originator"
RCW 62A.4A-104
"Originator's bank"
RCW 62A.4A-104
"Payment by beneficiary's bank to beneficiary"
RCW 62A.4A-405
"Payment by originator to beneficiary"
RCW 62A.4A-406
"Payment by sender to receiving bank"
RCW 62A.4A-403
"Payment date"
RCW 62A.4A-401
"Payment order"
RCW 62A.4A-103
"Receiving bank"
RCW 62A.4A-103
"Security procedure"
RCW 62A.4A-201
"Sender"
RCW 62A.4A-103
(c)The following definitions in Article 4 (RCW 62A.4-101 through 62A.4-504 ) apply to this Article:
"Clearinghouse"
RCW 62A.4-104
"Item"
RCW 62A.4-104
"Suspends payments"
RCW 62A.4-104
(d)In addition, Article 1 contains general definitions and principles of construction and interpretation applicable throughout this Article.
[ 2013 c 118 s 4 ; 2012 c 214 s 1201 ; 1991 sp.s. c 21 s 4A-105.]
Notes:
Application — Savings — 2012 c 214: See notes following RCW 62A.1-101 .