Colo. Rev. Stat. § 4-4.5-105 – Other definitions.

(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) Good faith means honesty in fact and the observance of reasonable commercial standards of fair dealing.
(7) Prove with respect to a fact means to meet the burden of establishing the fact (section 4-1-201 (b)(8)).
(b) Other definitions applying to this article and the sections in which they appear are:
Acceptance.Section 4-4.5-209
Beneficiary.Section 4-4.5-103
Beneficiary's bank.Section 4-4.5-103
Executed.Section 4-4.5-301
Execution date.Section 4-4.5-301
Funds transfer.Section 4-4.5-104
Funds-transfer system rule.Section 4-4.5-501
Intermediary bank.Section 4-4.5-104
Originator.Section 4-4.5-104
Originator's bank.Section 4-4.5-104
Payment by beneficiary's bank to beneficiary.Section 4-4.5-405
Payment by originator to beneficiary.Section 4-4.5-406
Payment by sender to receiving bank.Section 4-4.5-403
Payment date.Section 4-4.5-401
Payment order.Section 4-4.5-103
Receiving bank.Section 4-4.5-103
Security procedure.Section 4-4.5-201
Sender.Section 4-4.5-103
(c) The following definitions in article 4 of this title apply to this article:
Clearing house.Section 4-4-104
Item.Section 4-4-104
Suspends payments.Section 4-4-104
(d) In addition, article 1 contains general definitions and principles of construction and interpretation applicable throughout this article.

Source: L. 90: Entire article added, p. 343, § 1, effective January 1, 1991. L. 2006: (a)(7) amended, p. 497, § 28, effective September 1. L. 2013: (a)(2) amended, (SB 13-154), ch. 282, p. 1468, § 18, effective July 1.