{"data":{"id":"us-ak/as-45.14.105","jurisdiction":"us-ak","citation":"AS 45.14.105","heading":"Other definitions.","body":"(a) In this chapter,\n(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;\n(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;\n(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;\n(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;\n(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of banks through which a payment order by a bank may be transmitted to the bank to which the order is addressed;\n(6) [Repealed, § 113 ch 44 SLA 2009.]\n(7) “prove,” with respect to a fact, means to meet the burden of establishing the fact; “burden of establishing” has the meaning given in AS 45.01.211.\n(b) Other definitions applying to this chapter and the sections in which they appear are\n(1) “acceptance” in AS 45.14.209;\n(2) “executed” in AS 45.14.301;\n(3) “execution date” in AS 45.14.301;\n(4) “funds-transfer system rule” in AS 45.14.501;\n(5) “payment by beneficiary's bank to beneficiary” in AS 45.14.405;\n(6) “payment by originator to beneficiary” in AS 45.14.406;\n(7) “payment by sender to receiving bank” in AS 45.14.403;\n(8) “payment date” in AS 45.14.401;\n(9) “security procedure” in AS 45.14.201.\n(c) The following definitions in AS 45.04.104 apply to this chapter:\n(1) “clearinghouse”;\n(2) “item”;\n(3) “suspends payments”.\n(d) In addition, AS 45.01 contains general definitions and principles of construction and interpretation applicable throughout this chapter.","path":["Title 45. Trade and Commerce.","Chapter 14. Funds Transfers."],"source_url":"https://www.akleg.gov/basis/statutes.asp#45.14.105","current_through":"Alaska Statutes 2025 (34th Legislature, 2025-2026)","vintage":"","retrieved_at":"2026-09-02T06:19:44Z","sha256":"270fae12624601f4e5054c8442e166a0b18001c1b508b3011c1711c0f58d0ec4","source_id":"us-ak","stale":false,"prev":"us-ak/as-45.14.104","next":"us-ak/as-45.14.106"},"notice":"GroundRules: Original legal text. Not legal advice."}