Tex.
Bus. & Com. Code Section 4A.105
Other Definitions
(a)
In this chapter:(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 chapter.(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 (Section 1.201 (General Definitions)(b)(8)).(b)
Other definitions applying to this chapter and the sections in which they appear are:(1)
“Acceptance.” Section 4A.209 (Acceptance of Payment Order).(2)
“Beneficiary.” Section 4A.103 (Payment Order--definitions).(3)
“Beneficiary’s bank.” Section 4A.103 (Payment Order--definitions).(4)
“Executed.” Section 4A.301 (Execution and Execution Date).(5)
“Execution date.” Section 4A.301 (Execution and Execution Date).(6)
“Funds transfer.” Section 4A.104 (Funds Transfer--definitions).(7)
“Funds transfer system rule.” Section 4A.501 (Variation by Agreement and Effect of Funds Transfer System Rule).(8)
“Intermediary bank.” Section 4A.104 (Funds Transfer--definitions).(9)
“Originator.” Section 4A.104 (Funds Transfer--definitions).(10)
“Originator’s bank.” Section 4A.104 (Funds Transfer--definitions).(11)
“Payment by beneficiary’s bank to beneficiary.” Section 4A.405 (Payment by Beneficiary’s Bank to Beneficiary).(12)
“Payment by originator to beneficiary.” Section 4A.406 (Payment by Originator to Beneficiary; Discharge of Underlying Obligation).(13)
“Payment by sender to receiving bank.” Section 4A.403 (Payment by Sender to Receiving Bank).(14)
“Payment date.” Section 4A.401 (Payment Date).(15)
“Payment order.” Section 4A.103 (Payment Order--definitions).(16)
“Receiving bank.” Section 4A.103 (Payment Order--definitions).(17)
“Security procedure.” Section 4A.201 (Security Procedure).(18)
“Sender.” Section 4A.103 (Payment Order--definitions).(c)
The following definitions in Chapter 4 (Business Opportunities and Agreements) apply to this chapter:(1)
“Clearinghouse.” Section 4.104 (Definitions and Index of Definitions).(2)
“Item.” Section 4.104 (Definitions and Index of Definitions).(3)
“Suspends payments.” Section 4.104 (Definitions and Index of Definitions).(d)
In addition, Chapter 1 (Uniform Commercial Code) contains general definitions and principles of construction and interpretation applicable throughout this chapter.
Source:
Section 4A.105 — Other Definitions, https://statutes.capitol.texas.gov/Docs/BC/htm/BC.4A.htm#4A.105 (accessed Apr. 13, 2024).
