§490:4A-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)  "Bank" means a person engaged in the
business of banking and includes a savings bank, savings and loan association,
credit union, financial services loan company, 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 clearinghouse, or other communication system of a
clearinghouse 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 490:1-201).



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



"Acceptance".  Section 490:4A-209.



"Beneficiary".  Section 490:4A-103.



"Beneficiary's bank".  Section
490:4A-103.



"Executed".  Section 490:4A-301.



"Execution date".  Section
490:4A-301.



"Funds transfer".  Section
490:4A-104.



"Funds-transfer system rule". 
Section 490:4A-501.



"Intermediate bank".  Section
490:4A-104.



"Originator".  Section 490:4A-104.



"Originator's bank".  Section
490:4A-104.



"Payment by beneficiary's bank to
beneficiary".  Section 490:4A-405.



"Payment by originator to
beneficiary".  Section 490:4A-406.



"Payment by sender to receiving
bank".  Section 490:4A-403.



"Payment date".  Section 490:4A-401.



"Payment order".  Section 490:4A-103.



"Receiving bank".  Section
490:4A-103.



"Security procedure".  Section
490:4A-201.



"Sender".  Section 490:4A-103.



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



"Clearing-house".  Section 490:4-104.



"Item".  Section 490:4-104.



"Suspends payments".  Section
490:4-104.



(d)  In addition, article 1 contains general
definitions and principles of construction and interpretation applicable
throughout this article. [L 1991, c 41, pt of §1; am L 2004, c 162, §12]