ORS 74A.1050
Other definitions
(1)
As used in this chapter:(a)
“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.(b)
“Bank” means a financial institution, as defined in ORS 706.008 (Additional definitions for Bank Act). A branch or separate office of a bank is a separate bank for purposes of this chapter.(c)
“Customer” means a person, including a bank, having an account with a bank or from whom a bank has agreed to receive payment orders.(d)
“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.(e)
“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.(f)
“Prove” with respect to a fact means to meet the burden of establishing the fact.(2)
Other definitions applying to this chapter and the sections in which they appear are:(3)
The following definitions in ORS chapter 74 apply to this chapter and ORS 71.1010 (Short titles):(4)
In addition ORS chapter 71 contains general definitions and principles of construction and interpretation applicable throughout this chapter. [1991 c.442 §5; 1997 c.631 §381; 2009 c.181 §46a]
Source:
Section 74A.1050 — Other definitions, https://www.oregonlegislature.gov/bills_laws/ors/ors74A.html.
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