KRS 355.4-104: Definitions and index of definitions.

(1) In this article, unless the context otherwise requires:

(a) "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;

(b) "Afternoon" means the period of a day between noon and midnight;

(c) "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;

(d) "Clearing house" means an association of ban ks or other payors regularly

clearing items;

(e) "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;

(f) "Documentary draft" means a draft to be presented for acceptance or payment

if specified documents, certificated securities (KRS 355.8 -102) or instructions

for uncertificated securities (KRS 355.8-102), or other certificates, statements,

or the like are to be received by the drawee or other payo r before acceptance

or payment of the draft;

(g) "Draft" means a draft as defined in KRS 355.3 -104 or an item, other than an

instrument, that is an order;

(h) "Drawee" means a person ordered in a draft to make payment;

(i) "Item" means an instrument or a p romise or order to pay money handled by a

bank for collection or payment. The term does not include a payment order

governed by Article 4A of this chapter or a credit or debit card slip;

(j) "Midnight deadline" with respect to a bank is midnight on its nex t 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;

(k) "Settle" means to pay in cash, by clearing -house settlement, in a charge or

credit o r by remittance, or otherwise as agreed. A settlement may be either

provisional or final; and

(l) "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.

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

(a) "Agreement for electronic presentment." KRS 355.4-110;

(b) "Collecting bank." KRS 355.4-105;

(c) "Depositary bank." KRS 355.4-105;

(d) "Intermediary bank." KRS 355.4-105;

(e) "Payor bank." KRS 355.4-105;

(f) "Presenting bank." KRS 355.4-105; and

(g) "Presentment notice." KRS 355.4-110.

(3) The following definitions in other articles apply to this article:

(a) "Acceptance." KRS 355.3-409;

(b) "Alteration." KRS 355.3-407;

(c) "Cashier's check." KRS 355.3-104;

(d) "Certificate of deposit." KRS 355.3-104;

(e) "Certified check." KRS 355.3-409;

(f) "Check." KRS 355.3-104;

(g) "Control." KRS 355.7-106;

(h) "Holder in due course." KRS 355.3-302;

(i) "Instrument." KRS 355.3-104;

(j) "Notice of dishonor." KRS 355.3-503;

(k) "Order." KRS 355.3-103;

(l) "Ordinary care." KRS 355.3-103;

(m) "Person entitled to enforce." KRS 355.3-301;

(n) "Presentment." KRS 355.3-501;

(o) "Promise." KRS 355.3-103;

(p) "Prove." KRS 355.3-103;

(q) "Record." KRS 355.1-201;

(r) "Remotely created item." KRS 355.3-103;

(s) "Teller's check." KRS 355.3-104; and

(t) "Unauthorized signature." KRS 355.3-403.

(4) In addition, Article 1 of this chapter contains general definitions and principles of

construction and interpretation applicable throughout this article.