§ 34.1-4-104 — Definitions and index of definitions

Wyoming § 34.1-4-104

• Jurisdiction: Wyoming
• Title 34.1: Uniform Commercial Code
• Art. 4: BANK DEPOSITS AND COLLECTIONS

Text

(a) In this article, unless the context otherwise
requires:
(i) "Account" means any deposit or credit account
with a bank, including a demand, time, savings, passbook, share
draft, or like account, other than an account evidenced by a
certificate of deposit;
(ii) "Afternoon" means the period of a day between
noon and midnight;
(iii) "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;
(iv) "Clearing house" means an association of banks
or other payors regularly clearing items;
(v) "Customer" means a person having an account with
a bank or for whom a bank has agreed to collect items, including
a bank that maintains an account at another bank;
(vi) "Documentary draft" means a draft to be
presented for acceptance or payment if specified documents,
certificated securities (section 34.1-8-102) or instructions for
uncertificated securities (section 34.1-8-102), or other
certificates, statements, or the like are to be received by the
drawee or other payor before acceptance or payment of the draft;
(vii) "Draft" means a draft as defined in section
34.1-3-104 or an item, other than an instrument, that is an
order;
(viii) "Drawee" means a person ordered in a draft to
make payment;
(ix) "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 article 4.A or
a credit or debit card slip;
(x) "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;
(xi) "Settle" means to pay in cash, by clearing-house
settlement, in a charge or credit or by remittance, or otherwise
as agreed. A settlement may be either provisional or final;
(xii) "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.
(b) Other definitions applying to this article and the
sections in which they appear are:
"Agreement for electronic presentment". W.S. 34.1-4-110.
"Bank". W.S. 34.1-4-105.
"Collecting bank". W.S. 34.1-4-105.
"Depositary bank". W.S. 34.1-4-105.
"Intermediary bank". W.S. 34.1-4-105.
"Payor bank". W.S. 34.1-4-105.
"Presenting bank". W.S. 34.1-4-105.
"Presentment notice". W.S. 34.1-4-110.
(c) "Control" as provided in W.S. 34.1-7-106 and the
following definitions in other articles apply to this article:
"Acceptance". W.S. 34.1-3-409.
"Alteration". W.S. 34.1-3-407.
"Cashier's check". W.S. 34.1-3-104.
"Certificate of deposit". W.S. 34.1-3-104.
"Certified check". W.S. 34.1-3-409.
"Check". W.S. 34.1-3-104.
"Holder in due course". W.S. 34.1-3-302.
"Instrument". W.S. 34.1-3-104.
"Notice of dishonor". W.S. 34.1-3-503.
"Order". W.S. 34.1-3-103.
"Ordinary care". W.S. 34.1-3-103.
"Person entitled to enforce". W.S. 34.1-3-301.
"Presentment". W.S. 34.1-3-501.
"Promise". W.S. 34.1-3-103.
"Registered clearing corporation". W.S. 34.1-8-102.
"Prove". W.S. 34.1-3-103.
"Teller's check". W.S. 34.1-3-104.
"Unauthorized signature". W.S. 34.1-3-403.
(d) In addition article 1 contains general definitions and
principles of construction and interpretation applicable
throughout this article.