4-A-105 - Other Definitions.

Section 4-A-105.  Other Definitions. (1)  In this Article: (a) "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. (b)  "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. (c) "Customer"  means  a  person,  including  a bank, having an account with a bank or from whom a bank has agreed to receive payment orders. (d)  "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. (e)  "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. (f)  "Good faith" means honesty in fact  and  the  observance  of reasonable commercial standards of fair dealing. (g) "Prove"  with respect to a fact means to meet the burden of establishing the fact (subsection (8) of section 1-201). (2)  Other definitions applying to this Article and  the  sections  in  which they appear are: "Acceptance" Section 4-A-209 "Beneficiary" Section 4-A-103 "Beneficiary's bank" Section 4-A-103 "Executed" Section 4-A-301 "Execution date" Section 4-A-301 "Funds transfer" Section 4-A-104 "Funds-transfer system rule"  Section 4-A-501 "Intermediary bank" Section 4-A-104 "Originator" Section 4-A-104 "Originator's bank" Section 4-A-104 "Payment by beneficiary's bank to beneficiary" Section 4-A-405 "Payment by originator to beneficiary" Section 4-A-406 "Payment by sender to receiving bank" Section 4-A-403 "Payment date" Section 4-A-401 "Payment order" Section 4-A-103 "Receiving bank" Section 4-A-103 "Security procedure" Section 4-A-201 "Sender" Section 4-A-103 (3) The following definitions in Article 4 apply to this Article:"Clearing house" Section 4-104 "Item" Section 4-104 "Suspends payments" Section 4-104 (4)  In addition Article 1 contains general definitions and principles  of construction and interpretation applicable throughout this Article.