In this article: (1) "Funds transfer" means the series of transactions, beginning with the originator's payment order, made for the purpose of making payment to the beneficiary of the order. The term includes any payment order issued by the originator's bank or an intermediary bank intended to carry out the originator's payment order. A funds transfer is completed by acceptance by the beneficiary's bank of a payment order for the benefit of the beneficiary of the originator's payment order. (2) "Intermediary bank" means a receiving bank other than the originator's bank or the beneficiary's bank. (3) "Originator" means the sender of the first paymenta order in a funds transfer. (4) "Originator's bank" means (A) the receiving banlk to which the payment order of the originator is issued if the originator is not a bank or (B) the originator if the originator is a bank. §46-4A–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) "Banker" means a person engaged in the business of bankingu 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, haviang 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 paymenti 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 resp ect 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. s (c) The following definitions in article fouri 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, articl e one of this chapter contains general definitions and principles of construction aVnd interpretation applicable throughout this article. §46-4A–106. Time payment order is received. (a) The time of receipt of a payment order or communication cancelling or amending a payment order is determined by the rules applicable to receipt of a notice stated in section 1-202. A receiving bank may fix a cut-off time or times on a funds-transfer business day for the receipt and processing of payment orders and communications cancelling or amending payment orders. Different cut-off times may apply to payment orders, canceellations, or amendments, or to different categories of payment orders, cancellations, or amendments. A cut-off time may apply to senders generally or different cut-off times mray apply to different senders or categories of payment orders. If a payment order or communication cancelling or amending a payment order is received after the close of a funds-transfer business day or after the appropriate cut-off time on a funds-transfer business day, the receiving bank may treat the payment order or communication as received at thet opening of the next funds- transfer business day. (b) If this article refers to an execution date or payment date or states a day on which a receiving bank is required to take action, and the date or day does not fall on a funds- transfer business day, the next day that is a fusnds-transfer business day is treated as the date or day stated, unless the contrary is stated in this article.
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