2023 Kansas Statutes › Chapter 84 - Uniform Commercial Code › Article 4a - Funds Transfers › 84-4a-105 Other definitions.

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.