Mississippi Code 1972 (2023) › Title 75 - REGULATION OF TRADE, COMMERCE AND INVESTMENTS (§§ 75-1-101 — 75-NEW-NEW-007) › Chapter 4 - UNIFORM COMMERCIAL CODE-BANK DEPOSITS AND COLLECTIONS (§§ 75-4-101 — 75-4-504) › Part 1 - GENERAL PROVISIONS AND DEFINITIONS (§§ 75-4-101 — 75-4-111) › Section 75-4-104 - Definitions and index of definitions

(a)
In this chapter, unless the context otherwise requires:
(1)
"Account" means any deposit or credit account with a bank, including a demand, time, savings, passbook, share draft, or like account, other than an account evidenced by a certificate of deposit.
(2)
"Afternoon" means the period of a day between noon and midnight.
(3)
"Banking day" means the part of a day on which a bank is open to the public for carrying on substantially all of its banking functions.
(4)
"Clearinghouse" means an association of banks or other payors regularly clearing items.
(5)
"Customer" means a person having an account with a bank or for whom a bank has agreed to collect items, including a bank that maintains an account at another bank.
(6)
"Documentary draft" means a draft to be presented for acceptance or payment if specified documents, certificated securities (Section
75-8-102
) or instructions for uncertificated securities (Section
75-8-102
), or other certificates, statements, or the like are to be received by the drawee or other payor before acceptance or payment of the draft.
(7)
"Draft" means a draft as defined in Section
75-3-104
or an item, other than an instrument, that is an order.
(8)
"Drawee" means a person ordered in a draft to make payment.
(9)
"Item" means an instrument or a promise or order to pay money handled by a bank for collection or payment. The term does not include a payment order governed by Chapter 4A or a credit or debit card slip.
(10)
"Midnight deadline" with respect to a bank is midnight on its next banking day following the banking day on which it receives the relevant item or notice or from which the time for taking action commences to run, whichever is later.
(11)
"Settle" means to pay in cash, by clearinghouse settlement, in a charge or credit or by remittance, or otherwise as agreed. A settlement may be either provisional or final.
(12)
"Suspends payments" with respect to a bank means that it has been closed by order of the supervisory authorities, that a public officer has been appointed to take it over, or that it ceases or refuses to make payments in the ordinary course of business.
(b)
Other definitions applying to this chapter and the sections in which they appear are:
"Agreement for electronic
presentment" Section
75-4-110
"Collecting bank" Section
75-4-105
"Depositary bank" Section
75-4-105
"Intermediary bank" Section
75-4-105
"Payor bank" Section
75-4-105
"Presenting bank" Section
75-4-105
"Presentment notice" Section
75-4-110
(c)
The following definitions in other chapters apply to this chapter:
"Acceptance" Section
75-3-409
"Alteration" Section
75-3-407
"Cashier's check" Section
75-3-104
"Certificate of deposit" Section
75-3-104
"Certified check" Section
75-3-409
"Check" Section
75-3-104
"Control" Section
75-7-106
"Holder in due course" Section
75-3-302
"Instrument" Section
75-3-104
"Notice of dishonor" Section
75-3-503
"Order" Section
75-3-103
"Ordinary care" Section
75-3-103
"Person entitled to enforce" Section
75-3-301
"Presentment" Section
75-3-501
"Promise" Section
75-3-103
"Prove" Section
75-3-103
"Remotely created check" Section
75-3-103
"Teller's check" Section
75-3-104
"Unauthorized signature" Section
75-3-403
(d)
In addition, Chapter 1 contains general definitions and principles of construction and interpretation applicable throughout this chapter.
Codes, 1942, § 41A:4-104; Laws, 1966, ch. 316, § 4-104; Laws, 1992, ch. 420, § 75; Laws, 1996, ch. 468, § 55; Laws, 2006, ch. 527, § 56; Laws, 2010, ch. 506, § 27, eff. 7/1/2010.