Conn. Gen. Stat. § 42a-4A-105

Other definitions.

Last amended: 2005Year: 2026Length: 383 wordsSubsections: 3Official source
(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) “Prove” with respect to a fact means to meet the burden of establishing the fact. (b) Other definitions applying to this article and the section in which they appear are: “Acceptance”. Section 42a-4A-209 . “Beneficiary”. Section 42a-4A-103 . “Beneficiary's bank”. Section 42a-4A-103 . “Executed”. Section 42a-4A-301 . “Execution date”. Section 42a-4A-301 . “Funds transfer”. Section 42a-4A-104 . “Funds-transfer system rule”. Section 42a-4A-501 . “Intermediary bank”. Section 42a-4A-104 . “Originator”. Section 42a-4A-104 . “Originator's bank”. Section 42a-4A-104 . “Payment by beneficiary's bank to beneficiary”. Section 42a-4A-405 . “Payment by originator to beneficiary”. Section 42a-4A-406 . “Payment by sender to receiving bank”. Section 42a-4A-403 . “Payment date”. Section 42a-4A-401 . “Payment order”. Section 42a-4A-103 . “Receiving bank”. Section 42a-4A-103 . “Security procedure”. Section 42a-4A-201 . “Sender”. Section 42a-4A-103 . (c) The following definitions in article 4 apply to this article: “Clearing house”. Section 42a-4-104 . “Item”. Section 42a-4-104 . “Suspends payments”. Section 42a-4-104 . (d) In addition, article 1 contains general interpretation applicable throughout this article.
Conn. Gen. Stat. § 42a-4A-105: Other definitions. | Justis AI