Okla. Stat. tit. 12A, § 12A-4A-104: Funds transfer - Definitions

FUNDS TRANSFER - DEFINITIONS

In this Article:

(a) "Funds transfer" means the series of transactions,

beginning with the originator's payment order, made for the purpose

of making payment to the beneficiary of the order. The term

includes any payment order issued by the originator's bank or an

intermediary bank intended to carry out the originator's payment

order. A fund transfer is completed by acceptance by the

beneficiary's bank of a payment order for the benefit of the

beneficiary of the originator's payment order.

(b) "Intermediary bank" means a receiving bank other than the

originator's bank or the beneficiary's bank.

(c) "Originator" means the sender of the first payment order in

a funds transfer.

(d) "Originator's bank" means (i) the receiving bank to which

the payment order of the originator is issued if the originator is

not a bank, or (ii) the originator if the originator is a bank.