Okla. Stat. tit. 12A, § 12A-4A-105
This is the official text of Okla. Stat. tit. 12A, § 12A-4A-105, 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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Other definitions
Official statutory text
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 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.
(6) "Good faith" means honesty in fact and the observance of
reasonable commercial standards of fair dealing.
(7) "Prove" with respect to a fact means to meet the burden of
establishing the fact as provided in paragraph 8 of Section 1-201 of
Title 12A of the Oklahoma Statutes.
(b) Other definitions applying to this Article and the sections
in which they appear are:
"Acceptance" Section 4A-209
"Beneficiary" Section 4A-103
"Beneficiary's bank" Section 4A-103
"Executed" Section 4A-301
"Execution date" Section 4A-301
"Funds transfer" Section 4A-104
"Funds-transfer system rule" Section 4A-501
"Intermediary bank" Section 4A-104
"Originator" Section 4A-104
"Originator's bank" Section 4A-104
Oklahoma Statutes - Title 12A. Uniform Commercial Code Page 356
"Payment by beneficiary's bank
to beneficiary" Section 4A-405
"Payment by originator to
beneficiary" Section 4A-406
"Payment by sender
to receiving bank" Section 4A-403
"Payment date" Section 4A-401
"Payment order" Section 4A-103
"Receiving bank" Section 4A-103
"Security procedure" Section 4A-201
"Sender" Section 4A-103
(c) The following definitions in Article 4 of Title 12A of the
Oklahoma Statutes apply to this Article:
"Clearing house" Section 4-104
"Item" Section 4-104
"Suspends payments" Section 4-104
(d) In addition Article 1 contains general definitions and
principles of construction and interpretation applicable throughout
this Article.
(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 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.
(6) "Good faith" means honesty in fact and the observance of
reasonable commercial standards of fair dealing.
(7) "Prove" with respect to a fact means to meet the burden of
establishing the fact as provided in paragraph 8 of Section 1-201 of
Title 12A of the Oklahoma Statutes.
(b) Other definitions applying to this Article and the sections
in which they appear are:
"Acceptance" Section 4A-209
"Beneficiary" Section 4A-103
"Beneficiary's bank" Section 4A-103
"Executed" Section 4A-301
"Execution date" Section 4A-301
"Funds transfer" Section 4A-104
"Funds-transfer system rule" Section 4A-501
"Intermediary bank" Section 4A-104
"Originator" Section 4A-104
"Originator's bank" Section 4A-104
Oklahoma Statutes - Title 12A. Uniform Commercial Code Page 356
"Payment by beneficiary's bank
to beneficiary" Section 4A-405
"Payment by originator to
beneficiary" Section 4A-406
"Payment by sender
to receiving bank" Section 4A-403
"Payment date" Section 4A-401
"Payment order" Section 4A-103
"Receiving bank" Section 4A-103
"Security procedure" Section 4A-201
"Sender" Section 4A-103
(c) The following definitions in Article 4 of Title 12A of the
Oklahoma Statutes apply to this Article:
"Clearing house" Section 4-104
"Item" Section 4-104
"Suspends payments" Section 4-104
(d) In addition Article 1 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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