11 ME Rev Stat § 4-1105 (2021)
2021 Maine Revised Statutes|TITLE 11: UNIFORM COMMERCIAL CODE|Article 4-A: FUNDS TRANSFERS|Part 1: SUBJECT MATTER AND DEFINITIONS|11 §4-1105. Other definitions

 §4-1105. 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;   [PL 1991, c. 812, §2 (NEW).](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;   [PL 1991, c. 812, §2 (NEW).](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;   [PL 1991, c. 812, §2 (NEW).](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;   [PL 1991, c. 812, §2 (NEW).](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; and   [PL 2009, c. 325, Pt. B, §17 (AMD); PL 2009, c. 325, Pt. B, §27 (AFF).](f). [PL 2009, c. 325, Pt. B, §18 (RP); PL 2009, c. 325, Pt. B, §27 (AFF).] (g). "Prove" with respect to a fact means to meet the burden of establishing the fact (section 1-1201, subsection (8)).   [PL 2009, c. 325, Pt. B, §19 (AMD); PL 2009, c. 325, Pt. B, §27 (AFF).][PL 2009, c. 325, Pt. B, §§17-19 (AMD); PL 2009, c. 325, Pt. B, §27 (AFF).] (2).  Other definitions applying to this Article and the sections in which they appear are:"Acceptance"Section 4-1209"Beneficiary"Section 4-1103"Beneficiary's bank"Section 4-1103"Executed"Section 4-1301"Execution date"Section 4-1301"Funds transfer"Section 4-1104"Funds transfer system rule"Section 4-1501"Intermediary bank"Section 4-1104"Originator"Section 4-1104"Originator's bank"Section 4-1104"Payment by beneficiary's bank to beneficiary"Section 4-1405"Payment by originator to beneficiary"Section 4-1406"Payment by sender to receiving bank"Section 4-1403"Payment date"Section 4-1401"Payment order"Section 4-1103"Receiving bank"Section 4-1103"Security procedure"Section 4-1201"Sender"Section 4-1103[PL 1991, c. 812, §2 (NEW).] (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[PL 1991, c. 812, §2 (NEW).] (4).  In addition, Article 1 contains general definitions and principles of construction and interpretation applicable throughout this Article.   [PL 1991, c. 812, §2 (NEW).] SECTION HISTORY PL 1991, c. 812, §2 (NEW). PL 2009, c. 325, Pt. B, §§17-19 (AMD). PL 2009, c. 325, Pt. B, §27 (AFF).