{"data":{"id":"us-ky/krs-355.4-104","jurisdiction":"us-ky","citation":"KRS 355.4-104","heading":"Definitions and index of definitions.","body":"(1) In this article, unless the context otherwise requires:\n(a) \"Account\" means any deposit or credit account with a bank, including a\ndemand, time, savings, passbook, share draft, or like account, other than an\naccount evidenced by a certificate of deposit;\n(b) \"Afternoon\" means the period of a day between noon and midnight;\n(c) \"Banking day\" means the part of a day on which a bank is open to the public\nfor carrying on substantially all of its banking functions;\n(d) \"Clearing house\" means an association of ban ks or other payors regularly\nclearing items;\n(e) \"Customer\" means a person having an account with a bank or for whom a\nbank has agreed to collect items including a bank that maintains an account at\nanother bank;\n(f) \"Documentary draft\" means a draft to be presented for acceptance or payment\nif specified documents, certificated securities (KRS 355.8 -102) or instructions\nfor uncertificated securities (KRS 355.8-102), or other certificates, statements,\nor the like are to be received by the drawee or other payo r before acceptance\nor payment of the draft;\n(g) \"Draft\" means a draft as defined in KRS 355.3 -104 or an item, other than an\ninstrument, that is an order;\n(h) \"Drawee\" means a person ordered in a draft to make payment;\n(i) \"Item\" means an instrument or a p romise or order to pay money handled by a\nbank for collection or payment. The term does not include a payment order\ngoverned by Article 4A of this chapter or a credit or debit card slip;\n(j) \"Midnight deadline\" with respect to a bank is midnight on its nex t banking\nday following the banking day on which it receives the relevant item or notice\nor from which the time for taking action commences to run, whichever is\nlater;\n(k) \"Settle\" means to pay in cash, by clearing -house settlement, in a charge or\ncredit o r by remittance, or otherwise as agreed. A settlement may be either\nprovisional or final; and\n(l) \"Suspends payments\" with respect to a bank means that it has been closed by\norder of the supervisory authorities, that a public officer has been appointed to\ntake it over, or that it ceases or refuses to make payments in the ordinary\ncourse of business.\n(2) Other definitions applying to this article and the sections in which they appear are:\n(a) \"Agreement for electronic presentment.\" KRS 355.4-110;\n(b) \"Collecting bank.\" KRS 355.4-105;\n(c) \"Depositary bank.\" KRS 355.4-105;\n(d) \"Intermediary bank.\" KRS 355.4-105;\n(e) \"Payor bank.\" KRS 355.4-105;\n(f) \"Presenting bank.\" KRS 355.4-105; and\n(g) \"Presentment notice.\" KRS 355.4-110.\n(3) The following definitions in other articles apply to this article:\n(a) \"Acceptance.\" KRS 355.3-409;\n(b) \"Alteration.\" KRS 355.3-407;\n(c) \"Cashier's check.\" KRS 355.3-104;\n(d) \"Certificate of deposit.\" KRS 355.3-104;\n(e) \"Certified check.\" KRS 355.3-409;\n(f) \"Check.\" KRS 355.3-104;\n(g) \"Control.\" KRS 355.7-106;\n(h) \"Holder in due course.\" KRS 355.3-302;\n(i) \"Instrument.\" KRS 355.3-104;\n(j) \"Notice of dishonor.\" KRS 355.3-503;\n(k) \"Order.\" KRS 355.3-103;\n(l) \"Ordinary care.\" KRS 355.3-103;\n(m) \"Person entitled to enforce.\" KRS 355.3-301;\n(n) \"Presentment.\" KRS 355.3-501;\n(o) \"Promise.\" KRS 355.3-103;\n(p) \"Prove.\" KRS 355.3-103;\n(q) \"Record.\" KRS 355.1-201;\n(r) \"Remotely created item.\" KRS 355.3-103;\n(s) \"Teller's check.\" KRS 355.3-104; and\n(t) \"Unauthorized signature.\" KRS 355.3-403.\n(4) In addition, Article 1 of this chapter contains general definitions and principles of\nconstruction and interpretation applicable throughout this article.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=40658","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:58:44Z","sha256":"da244f70008fbe41c6201c6d4bfd62c4b5f33e3cb1cbb486e6c2db1dc3a1668b","source_id":"us-ky","stale":false,"prev":"us-ky/krs-355.4-103","next":"us-ky/krs-355.4-105"},"notice":"GroundRules: Original legal text. Not legal advice."}