Oklahoma Statutes
§ 12A-4A-104 — Funds transfer - Definitions.
Oklahoma·Title 12A Uniform Commercial Code
FUNDS TRANSFER - DEFINITIONS In this Article:
(a)"Funds transfer" means the series of transactions, beginning with the originator's payment order, made for the purpose of making payment to the beneficiary of the order. The term includes any payment order issued by the originator's bank or an intermediary bank intended to carry out the originator's payment order. A fund transfer is completed by acceptance by the beneficiary's bank of a payment order for the benefit of the beneficiary of the originator's payment order.
(b)"Intermediary bank" means a receiving bank other than the originator's bank or the beneficiary's bank.
(c)"Originator" means the sender of the first payment order in a funds transfer.
(d)"Originator's bank" means (i) the receiving bank to which the payment order of the
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Legislative History
Added by Laws 1990, c. 110, § 4, eff. July 1, 1991.
Nearby Sections
15
§ 12A-1-101
Short titles.§ 12A-1-102
Scope of article.§ 12A-1-104
Construction against implicit repeal.§ 12A-1-106
Use of singular and plural - Gender.§ 12A-1-107
Section captions.§ 12A-1-108
Repealed§ 12A-1-108.1
Relationship to Electronic Signatures in Global and§ 12A-1-202
Notice - Knowledge.§ 12A-1-203
Lease distinguished from security interest.§ 12A-1-204
"Value".§ 12A-1-205
Reasonable time - Seasonableness.§ 12A-1-206
Presumptions.