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Texas Business & Commerce Code - Section 4A.105. Other Definitions

Legal Research Home > Texas Lawyer > Business & Commerce Code > Texas Business & Commerce Code - Section 4A.105. Other Definitions

§ 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(b)(8)).
	(b)  Other definitions applying to this chapter and the 
sections in which they appear are:
		(1)  "Acceptance."  Section 4A.209.                                           
		(2)  "Beneficiary."  Section 4A.103.                                          
		(3)  "Beneficiary's bank."  Section 4A.103.                                   
		(4)  "Executed."  Section 4A.301.                                             
		(5)  "Execution date."  Section 4A.301.                                       
		(6)  "Funds transfer."  Section 4A.104.                                       
		(7)  "Funds transfer system rule."  Section 4A.501.                           
		(8)  "Intermediary bank."  Section 4A.104.                                    
		(9)  "Originator."  Section 4A.104.                                           
		(10)  "Originator's bank."  Section 4A.104.                                   
		(11)  "Payment by beneficiary's bank to beneficiary."  
Section 4A.405.      
		(12)  "Payment by originator to beneficiary."  Section 
4A.406.              
		(13)  "Payment by sender to receiving bank."  Section 
4A.403.               
		(14)  "Payment date."  Section 4A.401.                                        
		(15)  "Payment order."  Section 4A.103.                                       
		(16)  "Receiving bank."  Section 4A.103.                                      
		(17)  "Security procedure."  Section 4A.201.                                  
		(18)  "Sender."  Section 4A.103.                                              
	(c)  The following definitions in Chapter 4 apply to this 
chapter:           
		(1)  "Clearinghouse."  Section 4.104.                                         
		(2)  "Item."  Section 4.104.                                                  
		(3)  "Suspends payments."  Section 4.104.                                     
	(d)  In addition, Chapter 1 contains general definitions and 
principles of construction and interpretation applicable 
throughout this chapter.

Added by Acts 1993, 73rd Leg., ch. 570, § 7, eff. Sept. 1, 1993.  
Amended by Acts 2003, 78th Leg., ch. 542, § 13, eff. Sept. 1, 
2003.

Last modified: August 10, 2007