Commercial Code - COM - COM § 4104

Summary

(a) In this division unless the context otherwise requires: (1) “Account” means any deposit or credit account with a bank, including a demand, time, savings, passbook, share draft, or like account, other than an account evidenced by a certificate of deposit. (2) “Afternoon” means

Text

(a)
In this division unless the context otherwise requires:
(1)
“Account” means any deposit or credit account with a bank, including a demand, time, savings, passbook, share draft, or like account, other than an account evidenced by a certificate of deposit.
(2)
“Afternoon” means the period of a day between noon and midnight.
(3)
“Banking day” means
the part of a day on which a bank is open to the public for carrying on substantially all of its banking functions.
(4)
“Clearinghouse” means an association of banks or other payors regularly clearing items.
(5)
“Customer” means a person having an account with a bank or for whom a bank has agreed to collect items, including a bank that maintains an account at another bank.
(6)
“Documentary draft” means a draft to be presented for acceptance or payment if specified documents, certificated securities (Section 8102) or instructions for uncertificated securities (Section 8102), or other certificates, statements, or the like are to be received by the drawee or other payor before acceptance or payment of the draft.
(7)
“Draft” means a draft as defined in
Section 3104 or an item, other than an instrument, that is an order.
(8)
“Drawee” means a person ordered in a draft to make payment.
(9)
“Item” means an instrument or a promise or order to pay money handled by a bank for collection or payment. The term does not include a payment order governed by Division 11 (commencing with Section 11101) or a credit or debit card slip.
(10)
“Midnight deadline” with respect to a bank is midnight on its next banking day following the banking day on which it receives the relevant item or notice or from which the time for taking action commences to run, whichever is later.
(11)
“Settle” means to pay in cash, by clearinghouse settlement, in a charge or credit or by remittance, or otherwise as agreed. A settlement may be
either provisional or final.
(12)
“Suspends payments” with respect to a bank means that it has been closed by order of the supervisory authorities, that a public officer has been appointed to take it over or that it ceases or refuses to make payments in the ordinary course of business.
(b)
Other definitions applying to this division and the sections in which they appear are:
“Agreement for electronic presentment”
Section 4110
“Bank”
Section 4105
“Collecting bank”
Section 4105
“Depositary bank”
Section 4105
“Intermediary bank”
Section 4105
“Payor bank”
Section 4105
“Presenting bank”
Section 4105
“Presentment notice”
Section 4110
(c)
The following definitions in other divisions apply to
this division:
“Acceptance”
Section 3409
“Alteration”
Section 3407
“Cashier’s check”
Section 3104
“Certificate of deposit”
Section 3104
“Certified check”
Section 3409
“Check”
Section 3104
“Control”
Section 7106
“Holder in due course”
Section 3302
“Instrument”
Section 3104
“Notice of dishonor”
Section 3503
“Order”
Section 3103
“Ordinary care”
Section 3103
“Person entitled to enforce”
Section 3301
“Presentment”
Section 3501
“Promise”
Section 3103
“Prove”
Section 3103
“Teller’s check”
Section 3104
“Unauthorized signature”
Section 3403
(d)
In addition, Division 1 (commencing with Section 1101) contains general definitions and principles of construction and interpretation applicable throughout this division.

Retrieval chunks

• #1 | Commercial Code - COM - COM § 4104

  (a) In this division unless the context otherwise requires: (1) “Account” means any deposit or credit account with a bank, including a demand, time, savings, passbook, share draft, or like account, other than an account evidenced by a certificate of deposit. (2) “Afternoon” means the period of a day between noon …

• #2

  “Presenting bank” Section 4105 “Presentment notice” Section 4110 (c) The following definitions in other divisions apply to this division: “Acceptance” Section 3409 “Alteration” Section 3407 “Cashier’s check” Section 3104 “Certificate of deposit” Section 3104 “Certified check” Section 3409 “Check” Sec…