(a) In this chapter, unless the context otherwise requires,

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Terms Used In Alaska Statutes 45.04.104

  • account: means a 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. See Alaska Statutes 45.04.104
  • action: includes any matter or proceeding in a court, civil or criminal. See Alaska Statutes 01.10.060
  • banking day: means that part of a day on which a bank is open to the public for carrying on substantially all of its banking functions. See Alaska Statutes 45.04.104
  • clearinghouse: means an association of banks or other payors regularly clearing items. See Alaska Statutes 45.04.104
  • draft: means a draft as defined in Alaska Stat. See Alaska Statutes 45.04.104
  • drawee: means a person ordered in a draft to make payment. See Alaska Statutes 45.04.104
  • item: means an instrument or a promise or order to pay money handled by a bank for collection or payment. See Alaska Statutes 45.04.104
  • person: includes a corporation, company, partnership, firm, association, organization, business trust, or society, as well as a natural person. See Alaska Statutes 01.10.060
  • Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
(1) “account” means a 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 that 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 under Alaska Stat. § 45.08.102, instructions for uncertificated securities under Alaska Stat. § 45.08.102, 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 Alaska Stat. § 45.03.104 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 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 chapter and the sections in which the definitions appear are:

(1) “agreement for electronic presentment” in Alaska Stat. § 45.04.110;
(2) “bank” in Alaska Stat. § 45.04.105;
(3) “collecting bank” in Alaska Stat. § 45.04.105;
(4) “depositary bank” in Alaska Stat. § 45.04.105;
(5) “intermediary bank” in Alaska Stat. § 45.04.105;
(6) “payor bank” in Alaska Stat. § 45.04.105;
(7) “presenting bank” in Alaska Stat. § 45.04.105;
(8) “presentment notice” in Alaska Stat. § 45.04.110.
(c) The following definitions in Alaska Stat. Chapter 45.03 apply to this chapter:

(1) “acceptance” (Alaska Stat. § 45.03.409);
(2) “alteration” (Alaska Stat. § 45.03.407);
(3) “cashier’s check” (Alaska Stat. § 45.03.104);
(4) “certificate of deposit” (Alaska Stat. § 45.03.104);
(5) “certified check” (Alaska Stat. § 45.03.409);
(6) “check” (Alaska Stat. § 45.03.104);
(7) “control” (Alaska Stat. § 45.07.116);
(8)[Repealed, Sec. 113 ch 44 SLA 2009].
(9) “holder in due course” (Alaska Stat. § 45.03.302);
(10) “instrument” (Alaska Stat. § 45.03.104);
(11) “notice of dishonor” (Alaska Stat. § 45.03.503);
(12) “order” (Alaska Stat. § 45.03.103);
(13) “ordinary care” (Alaska Stat. § 45.03.103);
(14) “person entitled to enforce” (Alaska Stat. § 45.03.301);
(15) “presentment” (Alaska Stat. § 45.03.501);
(16) “promise” (Alaska Stat. § 45.03.103);
(17) “prove” (Alaska Stat. § 45.03.103);
(18) “teller’s check” (Alaska Stat. § 45.03.104);
(19) “unauthorized signature” (Alaska Stat. § 45.03.403).
(d) In addition, Alaska Stat. Chapter 45.01 contains general definitions and principles of construction and interpretation applicable throughout this chapter.
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