SECTION 670.104. Funds transfer: definitions.

Latest version.

1In this chapter, the term:
6(1) 7“Funds transfer” means the series of transactions, beginning with the originator’s payment order, made for the purpose of making payment to the beneficiary of the order. The term includes any payment order issued by the originator’s bank or an intermediary bank intended to carry out the originator’s payment order. A funds transfer is completed by acceptance by the beneficiary’s bank of a payment order for the benefit of the beneficiary of the originator’s payment order.
82(2) 83“Intermediary bank” means a receiving bank other than the originator’s bank or the beneficiary’s bank.
98(3) 99“Originator” means the sender of the first payment order in a funds transfer.
112(4) 113“Originator’s bank” means:
116(a) 117The receiving bank to which the payment order of the originator is issued if the originator is not a bank; or
138(b) 139The originator if the originator is a bank.

History.-s. 1, ch. 91-70.

Bills Cite this Section:

None

Cited by Court Cases:

None

                    
                        var val = document.getElementById('citecontent').innerHTML;
                        var href = decodeURIComponent(window.location.href);
                        var url = decodeURIComponent(escape(href.split("#")[0]));
                        url = decodeURIComponent(escape(url.split(",")[0]));
                        art.dialog.defaults.title = url;
                        art.dialog.data('cite', val);
                        art.dialog.data('homeDemoPath', '/Scripts/plus/artDialog/');
                        art.dialog.open('/Scripts/plus/artDialog/citeiframe.html');