KANSAS OFFICE of
  REVISOR of STATUTES

  

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84-4a-105. Other definitions. (a) In this article:

(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.

(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 article.

(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.

(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.

(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.

(6) Reserved.

(7) "Prove" with respect to a fact means to meet the burden of establishing the fact (K.S.A. 84-1-201(b)(8), and amendments thereto).

(b) Other definitions applying to this article and the sections in which they appear are:

"Acceptance"

84-4a-209, and amendments thereto

"Beneficiary"

84-4a-103, and amendments thereto

"Beneficiary's bank"

84-4a-103, and amendments thereto

"Executed"

84-4a-301, and amendments thereto

"Execution date"

84-4a-301, and amendments thereto

"Funds-transfer system rule"

84-4a-501, and amendments thereto

"Funds transfer"

84-4a-104, and amendments thereto

"Intermediary bank"

84-4a-104, and amendments thereto

"Originator"

84-4a-104, and amendments thereto

"Originator's bank"

84-4a-104, and amendments thereto

"Payment by beneficiary's bank to beneficiary"

84-4a-405, and amendments thereto

"Payment by originator to beneficiary"

84-4a-406, and amendments thereto

"Payment by sender to receiving bank"

84-4a-403, and amendments thereto

"Payment date"

84-4a-401, and amendments thereto

"Payment order"

84-4a-103, and amendments thereto

"Receiving bank"

84-4a-103, and amendments thereto

"Security procedure"

84-4a-201, and amendments thereto

"Sender"

84-4a-103, and amendments thereto

(c) The following definitions in article 4 of chapter 84 of Kansas Statutes Annotated, and amendments thereto, apply to this article:

"Clearinghouse"

84-4-104, and amendments thereto

"Item"

84-4-104, and amendments thereto

"Suspends payments"

84-4-104, and amendments thereto

(d) In addition, article 1 of chapter 84 of Kansas Statutes Annotated, and amendments thereto, contains general definitions and principles of construction and interpretation applicable throughout this article.

History: L. 1990, ch. 367, § 5; L. 1991, ch. 294, § 4; L. 2007, ch. 89, § 43; July 1, 2008.

KANSAS COMMENT, 1996

This section is identical to the 1995 Official Text.

An "authorized account" is one which is designated to take payment orders. If none is specified, any account which may take payment orders is an authorized account. "Bank" is broadly defined to include other banking institutions in addition to banks. The definition of good faith is identical to that in 84-3-104(a)(4) which is applicable to both article 3 and to article 4.


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