Other definitions

1. Law
2. Mississippi Code
3. Regulation of Trade, Commerce and Investments
4. Uniform Commercial Code-Funds Transfers
5. Subject Matter and Definitions
6. Other definitions

In this chapter:

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 chapter.
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 clearinghouse, or other communication system of a clearinghouse 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 (Section 75-1-201(b)(8)).

   "Acceptance" Section 75-4A-209

   "Beneficiary" Section 75-4A-103

   "Beneficiary's bank" Section 75-4A-103

   "Executed" Section 75-4A-301

   "Execution date" Section 75-4A-301

   "Funds transfer" Section 75-4A-104

   "Funds-transfer system rule" Section 75-4A-501

   "Intermediary bank" Section 75-4A-104

   "Originator" Section 75-4A-104

   "Originator's bank" Section 75-4A-104

   "Payment by beneficiary's

   bank to beneficiary" Section 75-4A-405

   "Payment by originator to

   beneficiary" Section 75-4A-406

   "Payment by sender to

   receiving bank" Section 75-4A-403

   "Payment date" Section 75-4A-401

   "Payment order" Section 75-4A-103

   "Receiving bank" Section 75-4A-103

   "Security procedure" Section 75-4A-201

   "Sender" Section 75-4A-103

   "Clearinghouse" Section 75-4-104

   "Item" Section 75-4-104

   "Suspends payments" Section 75-4-104

Other definitions applying to this chapter and the sections in which they appear are:

The following definitions in Title 75, Chapter 4, apply to this chapter:

In addition Title 75, Chapter 1, contains general definitions and principles of construction and interpretation applicable throughout this chapter.

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