2014 Statute
Prev | Article 4a. - FUNDS TRANSFERS | Next | ![]() |
84-4a-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 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) Reserved. (7) "Prove" with respect to a fact means to meet the burden of establishing the fact ( K.S.A. 84-1-201(b)(8), and amendments thereto). (b) Other definitions applying to this article and the sections in which they appear are: "Acceptance" 84-4a-209, and amendments thereto "Beneficiary" 84-4a-103, and amendments thereto "Beneficiary's bank" 84-4a-103, and amendments thereto "Executed" 84-4a-301, and amendments thereto "Execution date" 84-4a-301, and amendments thereto "Funds-transfer system rule" 84-4a-501, and amendments thereto "Funds transfer" 84-4a-104, and amendments thereto "Intermediary bank" 84-4a-104, and amendments thereto "Originator" 84-4a-104, and amendments thereto "Originator's bank" 84-4a-104, and amendments thereto "Payment by beneficiary's bank to beneficiary" 84-4a-405, and amendments thereto "Payment by originator to beneficiary" 84-4a-406, and amendments thereto "Payment by sender to receiving bank" 84-4a-403, and amendments thereto "Payment date" 84-4a-401, and amendments thereto "Payment order" 84-4a-103, and amendments thereto "Receiving bank" 84-4a-103, and amendments thereto "Security procedure" 84-4a-201, and amendments thereto "Sender" 84-4a-103, and amendments thereto (c) The following definitions in article 4 of chapter 84 of Kansas Statutes Annotated, and amendments thereto, apply to this article: "Clearinghouse" 84-4-104, and amendments thereto "Item" 84-4-104, and amendments thereto "Suspends payments" 84-4-104, and amendments thereto (d) In addition, article 1 of chapter 84 of Kansas Statutes Annotated, and amendments thereto, contains general definitions and principles of construction and interpretation applicable throughout this article. |
History: L. 1990, ch. 367, § 5; L. 1991, ch. 294, § 4; L. 2007, ch. 89, § 43; July 1, 2008. |
Prev | Article 4a. - FUNDS TRANSFERS | Next | ![]() |