§ 41-04-04 — (4-104) Definitions and index of definitions

1. In this chapter, unless the context otherwise requires:
a. "Account" means any deposit or credit account with a bank and includes a
demand, time, savings, passbook, share draft, or like account, other than an
account evidenced by a certificate of deposit.
b. "Afternoon" means the period of a day between noon and midnight.
c. "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.
d. "Clearinghouse" means an association of banks or other payors regularly clearing
items.
e. "Customer" means a person having an account with a bank or for whom a bank
has agreed to collect items and includes a bank maintaining an account at
another bank.

f. "Documentary draft" means a draft to be presented for acceptance or payment if
specified documents, certificated securities (section 41-08-02), or instructions for
uncertificated securities (section 41-08-02), or other certificates, statements, or
the like are to be received by the drawee or other payor before acceptance or
payment of the draft.
g. "Draft" means a draft as defined in section 41-03-04 or an item, other than an
instrument, that is an order.
h. "Drawee" means a person ordered in a draft to make payment.
i. "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 chapter 41-04.1 or a credit or debit card slip.
j. "Midnight deadline" with respect to a bank is midnight on its next banking day
following the banking day on which it receives the relevant item or notice or from
which the time for taking action commences to run, whichever is later.
k. "Settle" means to pay in cash, by clearinghouse settlement, in a charge or credit,
or by remittance, or otherwise as agreed. A settlement may be either provisional
or final.
l. "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.
2. Other definitions applying to this chapter and the sections in which they appear are:
a. "Bank". Section 41-04-05.
b. "Collecting bank". Section 41-04-05.
c. "Depositary bank". Section 41-04-05.
d. "Electronic presentment agreement". Section 41-04-10.
e. "Intermediary bank". Section 41-04-05.
f. "Payor bank". Section 41-04-05.
g. "Presenting bank". Section 41-04-05.
h. "Presentment notice". Section 41-04-10.
3. "Control" as provided under section 41-07-06 and the following definitions in other
chapters apply to this chapter:
a. "Acceptance". Section 41-03-46.
b. "Alteration". Section 41-03-44.
c. "Cashier's check". Section 41-03-04.
d. "Certificate of deposit". Section 41-03-04.
e. "Certified check". Section 41-03-45.
f. "Check". Section 41-03-04.
g. "Holder in due course". Section 41-03-28.
h. "Instrument". Section 41-03-04.
i. "Notice of dishonor". Section 41-03-60.
j. "Order". Section 41-03-03.
k. "Ordinary care". Section 41-03-03.
l. "Person entitled to enforce". Section 41-03-27.
m. "Presentment". Section 41-03-58.
n. "Promise". Section 41-03-03.
o. "Prove". Section 41-03-03.
p. "Teller's check". Section 41-03-04.
q. "Unauthorized signature". Section 41-03-40.
4. In addition, chapter 41-01 contains general definitions and principles of construction
and interpretation applicable throughout this chapter.