{"data":{"id":"us-nc/n.c.-gen.-stat.-25-4a-105","jurisdiction":"us-nc","citation":"N.C. Gen. Stat. § 25-4A-105","heading":"Other definitions.","body":"(a)\tIn this Article:\n(1)\t\"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)\t\"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 Article.\n(3)\t\"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)\t\"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)\t\"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)\tRepealed by Session Laws 2006-112, s. 15, effective October 1, 2006.\n(7)\t\"Prove\" with respect to a fact means to meet the burden of establishing the fact (G.S. 25-1-201(b)(8)).\n(b)\tOther definitions applying to this Article and the sections in which they appear are:\n\"Acceptance\"\tG.S. 25-4A-209\n\"Beneficiary\"\tG.S. 25-4A-103\n\"Beneficiary's bank\"\tG.S. 25-4A-103\n\"Executed\"\tG.S. 25-4A-301\n\"Execution date\"\tG.S. 25-4A-301\n\"Funds transfer\"\tG.S. 25-4A-104\n\"Funds-transfer system rule\"\tG.S. 25-4A-501\n\"Intermediary bank\"\tG.S. 25-4A-104\n\"Originator\"\tG.S. 25-4A-104\n\"Originator's bank\"\tG.S. 25-4A-104\n\"Payment by beneficiary's bank to beneficiary\"\tG.S. 25-4A-405\n\"Payment by originator to beneficiary\"\tG.S. 25-4A-406\n\"Payment by sender to receiving bank\"\tG.S. 25-4A-403\n\"Payment date\"\tG.S. 25-4A-401\n\"Payment order\"\tG.S. 25-4A-103\n\"Receiving bank\"\tG.S. 25-4A-103\n\"Security procedure\"\tG.S. 25-4A-201\n\"Sender\"\tG.S. 25-4A-103.\n(c)\tThe following definitions in Article 4 apply to this Article:\n\"Clearing house\"\tG.S. 25-4-104\n\"Item\"\tG.S. 25-4-104\n\"Suspends payments\"\tG.S. 25-4-104.\n(d)\tIn addition, Article 1 of this Chapter contains general definitions and principles of construction and interpretation applicable throughout this Article. (1993, c. 157, s. 1; 2006-112, ss. 15, 16.)","path":["Chapter 25. Uniform Commercial Code.","Article 4A. Funds Transfers","SUBJECT MATTER AND DEFINITIONS."],"source_url":"https://www.ncleg.gov/EnactedLegislation/Statutes/HTML/BySection/Chapter_25/GS_25-4A-105.html","current_through":"S.L. 2026-30","vintage":"","retrieved_at":"2026-08-27T17:58:47Z","sha256":"91ec58ad1504012b9021f6cd5569cd06b16444d391b8c4b912bb46a448e2cd19","source_id":"us-nc","stale":false,"prev":"us-nc/n.c.-gen.-stat.-25-4a-104","next":"us-nc/n.c.-gen.-stat.-25-4a-106"},"notice":"GroundRules: Original legal text. Not legal advice."}