§490:4A-104  Funds transfer--definitions. 
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 payment order in a funds transfer.



(4)  "Originator's bank" means (i) the
receiving bank to which the payment order of the originator is issued if the
originator is not a bank, or (ii) the originator if the originator is a bank.
[L 1991, c 41, pt of §1]