N.H. Rev. Stat. § 382-A:4A-105

Current through Chapter 381 of the 2024 Legislative Session

Section 382-A:4A-105 - Other Definitions

(a) In this Article:

(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 Article.

(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 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.

(6) [Repealed.]

(7) "Prove" with respect to a fact means to meet the burden of establishing the fact (Section 1-201(b)(8)).

(b) Other definitions applying to this Article and the sections in which they appear are:

"Acceptance" Section 4A-209.

"Beneficiary" Section 4A-103.

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

"Executed" Section 4A-301.

"Execution date" Section 4A-301.

"Funds transfer" Section 4A-104.

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

"Intermediary bank" Section 4A-104.

"Originator" Section 4A-104.

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

"Payment by beneficiary's bank to beneficiary" Section 4A-405.

"Payment by originator to beneficiary" Section 4A-406.

"Payment by sender to receiving bank" Section 4A-403.

"Payment date" Section 4A-401.

"Payment order" Section 4A-103.

"Receiving bank" Section 4A-103.

"Security procedure" Section 4A-201.

"Sender" Section 4A-103.

(c) The following definitions in Article 4 apply to this Article:

"Clearing house"

Section 4-104.

"Item"

Section 4-104.

"Suspends payments"

Section 4-104.

(d) In addition Article 1 contains general definitions and principles of construction and interpretation applicable throughout this Article.

RSA 382-A:4A-105

1993, 346:7, eff. Jan. 1, 1994. 2006, 169 : 11 , 16, V, eff. Jan. 1, 2007.