47-4A105. Other definitions A. In this chapter: 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 chapter. 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 47-1201, subsection B, paragraph 8). B. Other definitions applying to this chapter and the sections in which they appear are: 1. " Acceptance" . Section 47-4A209. 2. " Beneficiary" . Section 47-4A103. 3. " Beneficiary's bank" . Section 47-4A103. 4. " Executed" . Section 47-4A301. 5. " Execution date" . Section 47-4A301. 6. " Funds transfer" . Section 47-4A104. 7. " Funds-transfer system rule" . Section 47-4A501. 8. " Intermediary bank" . Section 47-4A104. 9. " Originator" . Section 47-4A104. 10. " Originator's bank" . Section 47-4A104. 11. " Payment by beneficiary's bank to beneficiary" . Section 47-4A405. 12. " Payment by originator to beneficiary" . Section 47-4A406. 13. " Payment by sender to receiving bank" . Section 47-4A403. 14. " Payment date" . Section 47-4A401. 15. " Payment order" . Section 47-4A103. 16. " Receiving bank" . Section 47-4A103. 17. " Security procedure" . Section 47-4A201. 18. " Sender" . Section 47-4A103. C. The following definitions in chapter 4 of this title apply to this chapter: 1. " Clearing house" . Section 47-4104. 2. " Item" . Section 47-4104. 3. " Suspends payments" . Section 47-4104. D. In addition, chapter 1 of this title contains general definitions and principles of construction and interpretation applicable throughout this chapter.
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