<html xmlns="http://www.w3.org/1999/xhtml"><head><meta charset="UTF-8" /><meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 57A-4A-105 - Other definitions. </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2073488Normal { text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-left: 0; margin-right: 0; margin-bottom: .001pt; } span.s2073488SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2073488CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2073488Normal-000000 { text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-left: 0; margin-right: 0; margin-bottom: .001pt; } span.s2073488DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2073488Normal-000001 { margin-left: 0.70in; text-indent: -0.45in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-right: 0; margin-bottom: .001pt; } p.s2073488Normal-000002 { text-indent: 0.25in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-left: 0; margin-right: 0; margin-bottom: .001pt; } span.s2073488000003 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2073488SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2073488SCL-000004 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } body { text-decoration-skip-ink: none; } </style></head><body><div><p dir="ltr" class="s2073488Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=57A-4A-105"><span class="s2073488SENU">57A-4A-105</span></a><span xml:space="preserve" class="s2073488SENU">. </span><span class="s2073488CL">Other definitions.</span></p><p dir="ltr" class="s2073488Normal-000000"><span class="s2073488DefaultParagraphFont">(a) In this chapter:</span></p><p dir="ltr" class="s2073488Normal-000001"><span class="s2073488DefaultParagraphFont">(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.</span></p><p dir="ltr" class="s2073488Normal-000001"><span class="s2073488DefaultParagraphFont">(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 chapter.</span></p><p dir="ltr" class="s2073488Normal-000001"><span class="s2073488DefaultParagraphFont">(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.</span></p><p dir="ltr" class="s2073488Normal-000001"><span class="s2073488DefaultParagraphFont">(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.</span></p><p dir="ltr" class="s2073488Normal-000001"><span class="s2073488DefaultParagraphFont">(5)    "Funds-transfer system" means a wire transfer network, automated clearing house, or other communication system of a clearing house 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.</span></p><p dir="ltr" class="s2073488Normal-000001"><span class="s2073488DefaultParagraphFont">(6)    (Reserved.)</span></p><p dir="ltr" class="s2073488Normal-000001"><span class="s2073488DefaultParagraphFont">(7)    "Prove" with respect to a fact means to meet the burden of establishing the fact (§ 57A-1-201(b)(8)).</span></p><p dir="ltr" class="s2073488Normal-000002"><span class="s2073488DefaultParagraphFont">(b) Other definitions applying to this chapter and the sections in which they appear are:</span></p><p dir="ltr" class="s2073488Normal-000001"><span xml:space="preserve" class="s2073488DefaultParagraphFont">"Acceptance" § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=57A-4A-209"><span class="s2073488DefaultParagraphFont">57A-4A-209</span></a></p><p dir="ltr" class="s2073488Normal-000001"><span xml:space="preserve" class="s2073488DefaultParagraphFont">"Beneficiary" § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=57A-4A-103"><span class="s2073488DefaultParagraphFont">57A-4A-103</span></a></p><p dir="ltr" class="s2073488Normal-000001"><span xml:space="preserve" class="s2073488DefaultParagraphFont">"Beneficiary's bank" § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=57A-4A-103"><span class="s2073488DefaultParagraphFont">57A-4A-103</span></a></p><p dir="ltr" class="s2073488Normal-000001"><span xml:space="preserve" class="s2073488DefaultParagraphFont">"Executed" § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=57A-4A-301"><span class="s2073488DefaultParagraphFont">57A-4A-301</span></a></p><p dir="ltr" class="s2073488Normal-000001"><span xml:space="preserve" class="s2073488DefaultParagraphFont">"Execution date" § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=57A-4A-301"><span class="s2073488DefaultParagraphFont">57A-4A-301</span></a></p><p dir="ltr" class="s2073488Normal-000001"><span xml:space="preserve" class="s2073488DefaultParagraphFont">"Funds transfer" § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=57A-4A-104"><span class="s2073488DefaultParagraphFont">57A-4A-104</span></a></p><p dir="ltr" class="s2073488Normal-000001"><span xml:space="preserve" class="s2073488DefaultParagraphFont">"Funds-transfer system rule" § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=57A-4A-501"><span class="s2073488DefaultParagraphFont">57A-4A-501</span></a></p><p dir="ltr" class="s2073488Normal-000001"><span xml:space="preserve" class="s2073488DefaultParagraphFont">"Intermediary bank" § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=57A-4A-104"><span class="s2073488DefaultParagraphFont">57A-4A-104</span></a></p><p dir="ltr" class="s2073488Normal-000001"><span xml:space="preserve" class="s2073488DefaultParagraphFont">"Originator" § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=57A-4A-104"><span class="s2073488DefaultParagraphFont">57A-4A-104</span></a></p><p dir="ltr" class="s2073488Normal-000001"><span xml:space="preserve" class="s2073488DefaultParagraphFont">"Originator's bank" § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=57A-4A-104"><span class="s2073488DefaultParagraphFont">57A-4A-104</span></a></p><p dir="ltr" class="s2073488Normal-000001"><span xml:space="preserve" class="s2073488DefaultParagraphFont">"Payment by beneficiary's bank to beneficiary" § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=57A-4A-405"><span class="s2073488DefaultParagraphFont">57A-4A-405</span></a></p><p dir="ltr" class="s2073488Normal-000001"><span xml:space="preserve" class="s2073488DefaultParagraphFont">"Payment by originator to beneficiary" § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=57A-4A-406"><span class="s2073488DefaultParagraphFont">57A-4A-406</span></a></p><p dir="ltr" class="s2073488Normal-000001"><span xml:space="preserve" class="s2073488DefaultParagraphFont">"Payment by sender to receiving bank" § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=57A-4A-403"><span class="s2073488DefaultParagraphFont">57A-4A-403</span></a></p><p dir="ltr" class="s2073488Normal-000001"><span xml:space="preserve" class="s2073488DefaultParagraphFont">"Payment date" § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=57A-4A-401"><span class="s2073488DefaultParagraphFont">57A-4A-401</span></a></p><p dir="ltr" class="s2073488Normal-000001"><span xml:space="preserve" class="s2073488DefaultParagraphFont">"Payment order" § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=57A-4A-103"><span class="s2073488DefaultParagraphFont">57A-4A-103</span></a></p><p dir="ltr" class="s2073488Normal-000001"><span xml:space="preserve" class="s2073488DefaultParagraphFont">"Receiving bank" § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=57A-4A-103"><span class="s2073488DefaultParagraphFont">57A-4A-103</span></a></p><p dir="ltr" class="s2073488Normal-000001"><span xml:space="preserve" class="s2073488DefaultParagraphFont">"Security procedure" § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=57A-4A-201"><span class="s2073488DefaultParagraphFont">57A-4A-201</span></a></p><p dir="ltr" class="s2073488Normal-000001"><span xml:space="preserve" class="s2073488DefaultParagraphFont">"Sender" § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=57A-4A-103"><span class="s2073488DefaultParagraphFont">57A-4A-103</span></a></p><p dir="ltr" class="s2073488Normal-000002"><span xml:space="preserve" class="s2073488DefaultParagraphFont">(c) The following definitions in chapter </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=57A-4"><span class="s2073488DefaultParagraphFont">57A-4</span></a><span xml:space="preserve" class="s2073488DefaultParagraphFont"> apply to this chapter:</span></p><p dir="ltr" class="s2073488Normal-000001"><span xml:space="preserve" class="s2073488DefaultParagraphFont">"Clearing house" § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=57A-4-104"><span class="s2073488DefaultParagraphFont">57A-4-104</span></a></p><p dir="ltr" class="s2073488Normal-000001"><span xml:space="preserve" class="s2073488DefaultParagraphFont">"Item" § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=57A-4-104"><span class="s2073488DefaultParagraphFont">57A-4-104</span></a></p><p dir="ltr" class="s2073488Normal-000001"><span xml:space="preserve" class="s2073488DefaultParagraphFont">"Suspends payments" § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=57A-4-104"><span class="s2073488DefaultParagraphFont">57A-4-104</span></a></p><p dir="ltr" class="s2073488Normal-000002"><span xml:space="preserve" class="s2073488DefaultParagraphFont">(d) In addition chapter </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=57A-1"><span class="s2073488DefaultParagraphFont">57A-1</span></a><span xml:space="preserve" class="s2073488DefaultParagraphFont"> contains general definitions and principles of construction and interpretation applicable throughout this chapter.</span></p><p dir="ltr" class="s2073488Normal"><span xml:space="preserve" class="s2073488000003"> </span></p><p dir="ltr" class="s2073488Normal"><span class="s2073488SCL">Source:</span><span xml:space="preserve" class="s2073488SCL-000004"> SL 1991, ch 397, § 1; SL 1992, ch 336, § 1; SL 2008, ch 259, § 37.</span></p></div></body></html>