RCW 62A.4-104 Definitions and index of definitions.

(a) In this Article, 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, except that it shall not include a Saturday, Sunday, or legal holiday;

(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 (RCW 62A.8-102) or instructions for uncertificated securities (RCW 62A.8-102), 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 RCW 62A.3-104 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 Article 4A 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 clearing-house 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 Article and the sections in which they appear are:

"Agreement for electronic presentment"

RCW 62A.4-110.

"Bank"

RCW 62A.4-105.

"Collecting bank"

RCW 62A.4-105.

"Depositary bank"

RCW 62A.4-105.

"Intermediary bank"

RCW 62A.4-105.

"Payor bank"

RCW 62A.4-105.

"Presenting bank"

RCW 62A.4-105.

"Presentment notice"

RCW 62A.4-110.

(c) "Control" as provided in RCW 62A.7-106 and the following definitions in other articles apply to this Article:

"Acceptance"

RCW 62A.3-409.

"Alteration"

RCW 62A.3-407.

"Cashier's check"

RCW 62A.3-104.

"Certificate of deposit"

RCW 62A.3-104.

"Certified check"

RCW 62A.3-409.

"Check"

RCW 62A.3-104.

"Draft"

RCW 62A.3-104.

"Holder in due course"

RCW 62A.3-302.

"Instrument"

RCW 62A.3-104.

"Notice of dishonor"

RCW 62A.3-503.

"Order"

RCW 62A.3-103.

"Ordinary care"

RCW 62A.3-103.

"Person entitled to enforce"

RCW 62A.3-301.

"Presentment"

RCW 62A.3-501.

"Promise"

RCW 62A.3-103.

"Prove"

RCW 62A.3-103.

"Teller's check"

RCW 62A.3-104.

"Unauthorized signature"

RCW 62A.3-403.

(d) In addition Article 1 contains general definitions and principles of construction and interpretation applicable throughout this Article.

[ 2012 c 214 § 1101; 1995 c 48 § 56; 1993 c 229 § 80; 1981 c 122 § 1; 1965 ex.s. c 157 § 4-104. Cf. former RCW 30.52.010; 1955 c 33 § 30.52.010; prior: 1929 c 203 § 1; RRS § 3292-1.]

NOTES:

Application—Savings—2012 c 214: See notes following RCW 62A.1-101.

Savings—1995 c 48: See RCW 62A.8-601.

Effective date—1995 c 48: See RCW 62A.11-113.

Recovery of attorneys' fees—Effective date—1993 c 229: See RCW 62A.11-111 and 62A.11-112.

Construction—1981 c 122: "Nothing in this 1981 amendatory act shall be construed to preclude any bank from being open to the public for carrying on its banking functions on Saturdays or Sundays." [ 1981 c 122 § 2.] "this 1981 amendatory act" consists of the 1981 amendment to RCW 62A.4-104.