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§12A-4A-105.


§12A-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,
   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
   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 as provided in paragraph 8 of Section 1-201 of
   Title 12A of the Oklahoma Statutes.
   
   (b) Other definitions applying to this Article and the sections in
   which they appear are:
   
   "Acceptance" Section 4A-209
   
   "Beneficiary" Section 4A-103
   
   "Beneficiary's bank" Section 4A-103
   
   "Executed" Section 4A-301
   
   "Execution date" Section 4A-301
   
   "Funds transfer" Section 4A-104
   
   "Funds-transfer system rule" Section 4A-501
   
   "Intermediary bank" Section 4A-104
   
   "Originator" Section 4A-104
   
   "Originator's bank" Section 4A-104
   
   "Payment by beneficiary's bank
   
   to beneficiary" Section 4A-405
   
   "Payment by originator to
   
   beneficiary" Section 4A-406
   
   "Payment by sender
   
   to receiving bank" Section 4A-403
   
   "Payment date" Section 4A-401
   
   "Payment order" Section 4A-103
   
   "Receiving bank" Section 4A-103
   
   "Security procedure" Section 4A-201
   
   "Sender" Section 4A-103
   
   (c) The following definitions in Article 4 of Title 12A of the
   Oklahoma Statutes apply to this Article:
   
   "Clearing house" Section 4-104
   
   "Item" Section 4-104
   
   "Suspends payments" Section 4-104
   
   (d) In addition Article 1 contains general definitions and principles
   of construction and interpretation applicable throughout this Article.
   

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