(a) In this article:

(i) '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;

(ii) '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;

(iii) 'Customer' means a person, including a bank, having an account with a bank or from whom a bank has agreed to receive payment orders;

(iv) '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;

(v) '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;

(vi) Reserved;

(vii) 'Prove' with respect to a fact means to meet the burden of establishing the fact (section 34.1-1-201(b)(viii)).

(b) Other definitions applying to this article and the sections in which they appear are:

'Acceptance' Section 34.1-4.A-209

'Beneficiary' Section 34.1-4.A-103

'Beneficiary's bank' Section 34.1-4.A-103

'Executed' Section 34.1-4.A-301

'Execution date' Section 34.1-4.A-301

'Funds transfer' Section 34.1-4.A-104

'Funds-transfer system rule' Section 34.1-4.A-501

'Intermediary bank' Section 34.1-4.A-104

'Originator' Section 34.1-4.A-104

'Originator's bank' Section 34.1-4.A-104

'Payment by beneficiary's

bank to beneficiary' Section 34.1-4.A-405

'Payment by originator to

beneficiary' Section 34.1-4.A-406

'Payment by sender to

receiving bank' Section 34.1-4.A-403

'Payment date' Section 34.1-4.A-401

'Payment order' Section 34.1-4.A-103

'Receiving bank' Section 34.1-4.A-103

'Security procedure' Section 34.1-4.A-201

'Sender' Section 34.1-4.A-103

(c) The following definitions in article 4 apply to this article:

'Clearing house' Section 34.1-4-104

'Item' Section 34.1-4-104

'Suspends payments' Section 34.1-4-104 (d) In addition article 1 contains general definitions and principles of construction and interpretation applicable throughout this article.