Georgia § 11-4a-105 Other definitions

Georgia Statutes

§ 11-4a-105 — Other definitions

Georgia § 11-4a-105

Title11

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Bluebook

O.C.G.A. § 11-4a-105 (2026).

Text

(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)"Fund

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(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) Reserved. (7) "Prove" with respect to a fact means to meet the burden of establishing the fact (Code Section 11-1-201(b)(8) ). (b) Other definitions applying to this article and the Code sections in which they appear are: "Acceptance." Code Section 11-4A-209 . "Beneficiary." Code Section 11-4A-103 . "Beneficiary's bank." Code Section 11-4A-103 . "Executed." Code Section 11-4A-301 . "Execution date." Code Section 11-4A-301 . "Funds transfer." Code Section 11-4A-104 . "Funds-transfer system rule." Code Section 11-4A-501 . "Intermediary bank." Code Section 11-4A-104 . "Originator." Code Section 11-4A-104 . "Originator's bank." Code Section 11-4A-104 . "Payment by beneficiary's bank to beneficiary." Code Section 11-4A-405 . "Payment by originator to beneficiary." Code Section 11-4A-406 . "Payment by sender to receiving bank." Code Section 11-4A-403 . "Payment date." Code Section 11-4A-401 . "Payment order." Code Section 11-4A-103 . "Receiving bank." Code Section 11-4A-103 . "Security procedure." Code Section 11-4A-201 . "Sender." Code Section 11-4A-103 . (c) The following definitions in Article 4 of this title apply to this article: "Clearing house." Code Section 11-4-104 . "Item." Code Section 11-4-104 . "Suspends payments." Code Section 11-4-104 . (d) In addition Article 1 of this title contains general definitions and principles of construction and interpretation applicable throughout this article.