(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) "Banker" 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:
- (1) "Acceptance", §46-4A-209.
- (2) "Beneficiary", §46-4A-103.
- (3) "Beneficiary's bank", §46-4A-103.
- (4) "Executed", §46-4A-301.
- (5) "Execution date", §46-4A-301.
- (6) "Funds transfer", §46-4A-104.
- (7) "Funds-transfer system rule", §46-4A-501.
- (8) "Intermediary bank", §46-4A-104.
- (9) "Originator", §46-4A-104.
- (10) "Originator's bank", §46-4A-104.
- (11) "Payment by beneficiary's bank to beneficiary", §46-4A-405.
- (12) "Payment by originator to beneficiary", §46-4A-406.
- (13) "Payment by sender to receiving bank", §46-4A-403.
- (14) "Payment date", §46-4A-401.
- (15) "Payment order", §46-4A-103.
- (16) "Receiving bank", §46-4A-103.
- (17) "Security procedure", §46-4A-201.
- (18) "Sender", §46-4A-103.
(c) The following definitions in article four of this chapter apply to this article:
- (1) "Clearing house", §46-4-104.
- (2) "Item", §46-4-104.
- (3) "Suspends payments", §46-4-104.
- (d) In addition, article one of this chapter contains general definitions and principles of construction and interpretation applicable throughout this article.