{"data":{"id":"us-ky/krs-355.4a-105","jurisdiction":"us-ky","citation":"KRS 355.4A-105","heading":"Other definitions.","body":"(1) In this article:\n(a) \"Authorized account\" means a deposit account of a customer in a bank\ndesignated by the customer as a source of payment of payment orders issued\nby the customer to the bank. If a customer does not so designate an account,\nany account of the customer is an a uthorized account if payment of a payment\norder from that account is not inconsistent with a restriction on the use of that\naccount;\n(b) \"Bank\" means a person engaged in the business of banking and includes a\nsavings bank, savings and loan association, credit union, and trust company. A\nbranch or separate office of a bank is a separate bank for purposes of this\narticle;\n(c) \"Customer\" means a person, including a bank, having an account with a bank\nor from whom a bank has agreed to receive payment orders;\n(d) \"Funds-transfer business day\" of a receiving bank means the part of a day\nduring which the receiving bank is open for the receipt, processing, and\ntransmittal of payment orders and cancellations and amendments of payment\norders;\n(e) \"Funds-transfer syste m\" means a wire transfer network, automated clearing\nhouse, or other communication system of a clearing house or other association\nof banks through which a payment order by a bank may be transmitted to the\nbank to which the order is addressed; and\n(f) (Reserved)\n(g) \"Prove\" with respect to a fact means to meet the burden of establishing the\nfact, as defined in KRS 355.1-201(2).\n(2) Other definitions applying to this article and the sections of this article in which\nthey appear are:\n(a) \"Acceptance.\" KRS 355.4A-209;\n(b) \"Beneficiary.\" KRS 355.4A-103;\n(c) \"Beneficiary's bank.\" KRS 355.4A-103;\n(d) \"Executed.\" KRS 355.4A-301;\n(e) \"Execution date.\" KRS 355.4A-301;\n(f) \"Funds transfer.\" KRS 355.4A-104;\n(g) \"Funds-transfer system rule.\" KRS 355.4A-501;\n(h) \"Intermediary bank.\" KRS 355.4A-104;\n(i) \"Originator.\" KRS 355.4A-104;\n(j) \"Originator's bank.\" KRS 355.4A-104;\n(k) \"Payment by beneficiary's bank to beneficiary.\" KRS 355.4A-405;\n(l) \"Payment by originator to beneficiary.\" KRS 355.4A-406;\n(m) \"Payment by sender to receiving bank.\" KRS 355.4A-403;\n(n) \"Payment date.\" KRS 355.4A-401;\n(o) \"Payment order.\" KRS 355.4A-103;\n(p) \"Receiving bank.\" KRS 355.4A-103;\n(q) \"Security procedure.\" KRS 355.4A-201; and\n(r) \"Sender.\" KRS 355.4A-103.\n(3) The following definitions in Article 4 of KRS Chapter 355 apply to this article:\n(a) \"Clearing house.\" KRS 355.4-104;\n(b) \"Item.\" KRS 355.4-104; and\n(c) \"Suspends payments.\"  KRS 355.4-104.\n(4) In addition, Article 1 of KRS Chapter 355 contains general definitions and\nprinciples of construction and interpretation applicable throughout this article.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=33559","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:58:45Z","sha256":"72273c835c40e0719290a89209deed751a9169d9a8b3c28aba54188041db8b6b","source_id":"us-ky","stale":false,"prev":"us-ky/krs-355.4a-104","next":"us-ky/krs-355.4a-106"},"notice":"GroundRules: Original legal text. Not legal advice."}