{"data":{"id":"us-nd/n.d.-cent.-code-41-04.1-05","jurisdiction":"us-nd","citation":"N.D. Cent. Code § 41-04.1-05","heading":"(4A-105) Other definitions","body":"1.In this chapter:\na.\"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.\nb.\"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.\nc.\"Customer\" means a person, including a bank, having an account with a bank or from whom a bank has agreed to receive payment orders.\nd.\"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.\ne.\"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.\nf.(Reserved).\ng.\"Prove\" with respect to a fact means to meet the burden of establishing the fact. Subdivision h of subsection 2 of section 41-01-09.\n2.Other definitions applying to this chapter and the sections in which they appear are:\na.\"Acceptance\". Section 41-04.1-17.\nb.\"Beneficiary\". Section 41-04.1-03.\nc.\"Beneficiary's bank\". Section 41-04.1-03.\nd.\"Executed\". Section 41-04.1-21.\ne.\"Execution date\". Section 41-04.1-21.\nf.\"Funds transfer\". Section 41-04.1-04.\ng.\"Funds-transfer system rule\". Section 41-04.1-32.\nh.\"Intermediary bank\". Section 41-04.1-04.\ni.\"Originator\". Section 41-04.1-04.\nj.\"Originator's bank\". Section 41-04.1-04.\nk.\"Payment by beneficiary's bank to beneficiary\". Section 41-04.1-30.\nl.\"Payment by originator to beneficiary\". Section 41-04.1-31.\nm.\"Payment by sender to receiving bank\". Section 41-04.1-28.\nn.\"Payment date\". Section 41-04.1-26.\no.\"Payment order\". Section 41-04.1-03.\np.\"Receiving bank\". Section 41-04.1-03.\nq.\"Security procedure\". Section 41-04.1-26.\nr.\"Sender\". Section 41-04.1-03.\n3.The following definitions in chapter 41-04 apply to this chapter:\na.\"Clearinghouse\". Section 41-04-04.\nb.\"Item\". Section 41-04-04.\nc.\"Suspends payments\". Section 41-04-04.\n4.In addition, chapter 41-01 contains general definitions and principles of construction and interpretation applicable throughout this chapter.","path":["Title 41 Uniform Commercial Code","Chapter 41-04.1 Funds Transfers"],"source_url":"https://ndlegis.gov/cencode/t41c04-1.pdf","current_through":"2026-07-31T11:12:02","vintage":"","retrieved_at":"2026-09-02T21:04:14Z","sha256":"81ce5f018d9e2caf14c67243471f9aeb6c5ff64dcd8acd5a3b76f0fd09629076","source_id":"us-nd","stale":true,"prev":"us-nd/n.d.-cent.-code-41-04.1-04","next":"us-nd/n.d.-cent.-code-41-04.1-06"},"notice":"GroundRules: Original legal text. Not legal advice."}