Okla. Stat. tit. 12A, § 12A-4-104
This is the official text of Okla. Stat. tit. 12A, § 12A-4-104, part of Oklahoma’s Stat. tit. 12A, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 12A,." Browse the sections below, each linked to its official government source.
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Definitions and Index of Definitions
Official statutory text
DEFINITIONS AND INDEX OF DEFINITIONS
(a) In this article 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) "Clearing house" 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, certified securities
(Section 8-102 of this title) or instructions for uncertificated
securities (Section 8-102 of this title) 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 3-104 of this
title 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 Article 4A of this title 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
Oklahoma Statutes - Title 12A. Uniform Commercial Code Page 332
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 clearing-house
settlement, in a charge or credit or by remittance, or otherwise as
agreed. A settlement may be either provisional or final; and
(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 article and the sections
of this title in which they appear are:
"Agreement for electronic presentment" Section 4-110.
"Collecting bank" Section 4-105.
"Depositary bank" Section 4-105.
"Intermediary bank" Section 4-105.
"Payor bank" Section 4-105.
"Presenting bank" Section 4-105.
"Presentment Notice" Section 4-110.
(c) “Control” as provided in Section 7-106 of this title and
the following definitions in other articles of this title apply to
this article:
"Acceptance" Section 3-409.
"Alteration" Section 3-407.
"Cashier's check" Section 3-104.
"Certificate of deposit" Section 3-104.
"Certified check" Section 3-409.
"Check" Section 3-104.
"Draft" Section 3-104.
"Good faith" Section 3-103.
"Holder in due course" Section 3-302.
"Instrument" Section 3-104.
"Notice of dishonor" Section 3-503.
"Order" Section 3-103.
"Ordinary care" Section 3-103.
"Person entitled to enforce" Section 3-301.
"Presentment" Section 3-501.
"Promise" Section 3-103.
"Prove" Section 3-103.
“Record” Section 3-103
"Teller's check" Section 3-104.
"Unauthorized signature" Section 3-403.
(d) In addition, Article 1 of this title contains general
definitions and principles of construction and interpretation
applicable throughout this article.
(a) In this article 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) "Clearing house" 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, certified securities
(Section 8-102 of this title) or instructions for uncertificated
securities (Section 8-102 of this title) 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 3-104 of this
title 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 Article 4A of this title 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
Oklahoma Statutes - Title 12A. Uniform Commercial Code Page 332
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 clearing-house
settlement, in a charge or credit or by remittance, or otherwise as
agreed. A settlement may be either provisional or final; and
(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 article and the sections
of this title in which they appear are:
"Agreement for electronic presentment" Section 4-110.
"Collecting bank" Section 4-105.
"Depositary bank" Section 4-105.
"Intermediary bank" Section 4-105.
"Payor bank" Section 4-105.
"Presenting bank" Section 4-105.
"Presentment Notice" Section 4-110.
(c) “Control” as provided in Section 7-106 of this title and
the following definitions in other articles of this title apply to
this article:
"Acceptance" Section 3-409.
"Alteration" Section 3-407.
"Cashier's check" Section 3-104.
"Certificate of deposit" Section 3-104.
"Certified check" Section 3-409.
"Check" Section 3-104.
"Draft" Section 3-104.
"Good faith" Section 3-103.
"Holder in due course" Section 3-302.
"Instrument" Section 3-104.
"Notice of dishonor" Section 3-503.
"Order" Section 3-103.
"Ordinary care" Section 3-103.
"Person entitled to enforce" Section 3-301.
"Presentment" Section 3-501.
"Promise" Section 3-103.
"Prove" Section 3-103.
“Record” Section 3-103
"Teller's check" Section 3-104.
"Unauthorized signature" Section 3-403.
(d) In addition, Article 1 of this title contains general
definitions and principles of construction and interpretation
applicable throughout this article.
Status: in_force · Read it on the official government site
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