Nevada § 104A.4105 Other definitions

Nevada Statutes

§ 104A.4105 — Other definitions

Nevada·Title 8 COMMERCIAL INSTRUMENTS AND TRANSACTIONS·Ch. 104A Uniform· Subject Matter and Definitions

1. In this Article:

(a)“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.

(b)“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.

(c)“Customer” means a person, including a bank, having an account with a bank or from whom a bank has agreed to receive payment orders.

(d)“Funds

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1. In this Article:
(a) “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.
(b) “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.
(c) “Customer” means a person, including a bank, having an account with a bank or from whom a bank has agreed to receive payment orders.
(d) “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.
(e) “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.
(f) “Prove” with respect to a fact means to meet the burden of establishing the fact (paragraph (h) of subsection 2 of NRS 104.1201 ).
2. Other definitions applying to this Article and the sections in which they appear are:
“Acceptance.” NRS 104A.4209 .
“Beneficiary.” NRS 104A.4103 .
“Beneficiary’s bank.” NRS 104A.4103 .
“Executed.” NRS 104A.4301 .
“Execution date.” NRS 104A.4301 .
“Funds transfer.” NRS 104A.4104 .
“Funds-transfer system rule.” NRS 104A.4501 .
“Intermediary bank.” NRS 104A.4104 .
“Originator.” NRS 104A.4104 .
“Originator’s bank.” NRS 104A.4104 .
“Payment by beneficiary’s bank to beneficiary.” NRS 104A.4405 .
“Payment by originator to beneficiary.” NRS 104A.4406 .
“Payment by sender to receiving bank.” NRS 104A.4403 .
“Payment date.” NRS 104A.4401 .
“Payment order.” NRS 104A.4103 .
“Receiving bank.” NRS 104A.4103 .
“Security procedure.” NRS 104A.4201 .
“Sender.” NRS 104A.4103 .
3. The following definitions in Article 4 apply to this Article:
“Clearing house.” NRS 104.4104 .
“Item.” NRS 104.4104 .
“Suspends payments.” NRS 104.4104 .
4. In addition Article 1 contains general definitions and principles of construction and interpretation applicable throughout this Article.