Kan. Stat. § 84-4a-105

Current through 2024 Session Acts Chapter 111 and 2024 Special Session Acts Chapter 4

Section 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.

K.S.A. 84-4a-105

L. 1990, ch. 367, § 5; L. 1991, ch. 294, § 4; L. 2007, ch. 89, § 43; 7/1/2008.