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7-4-104
Section 7-4-104 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; (4)
"Clearing house" 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 7-8-102) or instructions for uncertificated
securities (Section 7-8-308), or...
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7-5-102
an item of value. Unless the letter of credit otherwise provides, "honor" occurs:
(i) upon payment, (ii) if the letter of credit provides for acceptance, upon acceptance of
a draft and, at maturity, its payment, or (iii) if the letter of credit provides for incurring
a deferred obligation, upon incurring the obligation and, at maturity, its performance. (9)
"Issuer" means a bank or other person that issues a letter of credit, but does not
include an individual who makes an engagement for personal, family, or household purposes.
(10) "Letter of credit" means a definite undertaking that satisfies the requirements
of Section 7-5-104 by an issuer to a beneficiary at the request or for the account of an applicant
or, in the case of a financial institution, to itself or for its own account, to honor a documentary
presentation by payment or delivery of an item of value. (11) "Nominated person"
means a person whom the issuer (i) designates or authorizes to pay, accept, negotiate, or...
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7-9A-102
term includes: (A) proceeds to which a security interest attaches; (B) accounts, chattel paper,
payment intangibles, and promissory notes that have been sold; and (C) goods that are the
subject of a consignment. (13) "Commercial tort claim" means a claim arising in
tort with respect to which: (A) the claimant is an organization; or (B) the claimant is an
individual and the claim: (i) arose in the course of the claimant's business or profession;
and (ii) does not include damages arising out of personal injury to or the death
of an individual. (14) "Commodity account" means an account maintained by a commodity
intermediary in which a commodity contract is carried for a commodity customer. (15) "Commodity
contract" means a commodity futures contract, an option on a commodity futures contract,
a commodity option, or another contract if the contract or option is: (A) traded on or subject
to the rules of a board of trade that has been designated as a contract market for such a
contract...
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40-21-100
Section 40-21-100 Definitions. (a) For the purpose of this article, the following terms shall
have the respective meanings ascribed by this section: (1) BUSINESS. All activities relating
to the furnishing of utility services. (2) DEPARTMENT. The Department of Revenue of the State
of Alabama. (3) DOMESTIC WATER. All water except water that is sold to persons for use or
consumption in industrial processes and not primarily for human consumption. (4) GROSS RECEIPTS.
The value proceeding or accruing from the furnishing of utility services, all receipts actual
and accrued, without any deduction on account of the cost of the utility services sold, the
cost of the materials used, labor or service cost, interest paid, or any other expense whatever,
and without any deductions on account of losses. (5) GROSS SALES. The value proceeding or
accruing from the furnishing of utility services, and including the proceeds from the sale
of any utility services handled on consignment by the taxpayer,...
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35-12-72
or its agent. c. Property not subject to paragraphs a. or b. within two years of the distribution
shall remain reportable under other sections of this article. (12) Property received by a
court as proceeds of a class action, and not distributed pursuant to the judgment, one year
after the distribution date. (13) Property held by a court, government, governmental subdivision,
agency, or instrumentality, one year after the property becomes distributable. (14) Wages
or other compensation for personal services, one year after the compensation becomes
payable. (15) Deposit or refund owed to a subscriber by a utility, one year after the deposit
or refund becomes payable. (16) Any check, warrant, debit card, or other payment instrument
drawn on or issued by the State of Alabama, outstanding and unpaid within the time frame allowed
under Section 41-4-60. (17) Gift certificate, other than those exempt under Section 35-12-73,
three years after June 30 of the year in which the certificate was...
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40-21-80
Section 40-21-80 Definitions. (a) For the purpose of this article, the following terms shall
have the respective meanings ascribed by this section: (1) DEPARTMENT. The Department of Revenue
of the State of Alabama. (2) DOMESTIC WATER. All water except water that is sold to persons
for use or consumption in industrial processes and not primarily for human consumption. (3)
GROSS RECEIPTS. The value proceeding or accruing from the furnishing of utility services,
all receipts actual and accrued, without any deduction on account of the cost of the utility
services sold, the cost of the materials used, labor or service cost, interest paid, or any
other expenses whatever, and without any deductions on account of losses. (4) GROSS SALES.
The value proceeding or accruing from the furnishing of utility services, and including the
proceeds from the sale of any utility services handled on consignment by the taxpayer, without
any deduction on account of the cost of the utility services sold, the...
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13A-8-111
(12) FINANCIAL INSTRUMENT. Includes, but is not limited to, any check, cashier's check, draft,
warrant, money order, certificate of deposit, negotiable instrument, letter of credit, bill
of exchange, credit or debit card, transaction authorization mechanism, marketable security,
or any computer system representation thereof. (13) HARM. Partial or total alteration, damage,
or erasure of stored data, interruption of computer services, introduction of a virus, or
any other loss, disadvantage, or injury that might reasonably be suffered as a result
of the actor's conduct. (14) IDENTIFICATION DOCUMENT. Any document containing data that is
issued to an individual and which that individual, and only that individual, uses alone or
in conjunction with any other information for the primary purpose of establishing his or her
identity or accessing his or her financial information or benefits. Identification documents
specifically include, but are not limited to, the following: a. Government...
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7-3-103
Section 7-3-103 Definitions. (a) In this article: (1) "Acceptor" means a drawee who
has accepted a draft. (2) "Drawee" means a person ordered in a draft to make payment.
(3) "Drawer" means a person who signs or is identified in a draft as a person ordering
payment. (4) "Good faith" means honesty in fact in the conduct or transaction concerned.
(5) "Maker" means a person who signs or is identified in a note as a person undertaking
to pay. (6) "Order" means a written instruction to pay money signed by the person
giving the instruction. The instruction may be addressed to any person, including the person
giving the instruction, or to one or more persons jointly or in the alternative but not in
succession. An authorization to pay is not an order unless the person authorized to pay is
also instructed to pay. (7) "Ordinary care" in the case of a person engaged in business
means observance of reasonable commercial standards, prevailing in the area in which the person
is located, with respect...
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7-4-105
Section 7-4-105 "Bank"; "depositary bank"; "payor bank"; "intermediary
bank"; "collecting bank"; "presenting bank." In this article: (1)
"Bank" means a person engaged in the business of banking, including a savings bank,
savings and loan association, credit union, or trust company; (2) "Depositary bank"
means the first bank to take an item even though it is also the payor bank, unless the item
is presented for immediate payment over the counter; (3) "Payor bank" means a bank
that is the drawee of a draft; (4) "Intermediary bank" means a bank to which an
item is transferred in course of collection except the depositary or payor bank; (5) "Collecting
bank" means a bank handling an item for collection except the payor bank; (6) "Presenting
bank" means a bank presenting an item except a payor bank. (Acts 1965, No. 549, p. 811;
repealed by Acts 1995, No. 95-668, p. 1381, §2; added by Acts 1995, No. 95-668, p. 1381,
§2.)...
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35-12-79
Section 35-12-79 Custody by state; recovery by holder; defense of holder. (a) In this article,
good faith means honesty in fact in the conduct or transaction concerned. (b) Upon payment
or delivery of property to the Treasurer, the state assumes custody and responsibility for
the safekeeping of the property. A holder who pays or delivers property to the Treasurer in
good faith is relieved of all liability arising thereafter with respect to the property. The
payment or delivery of property to the Treasurer shall operate as a full, absolute and unconditional
release and discharge of the holder from any and all claims or demands of or liability to
any person entitled thereto, or to any other claimant or state, and the payment or delivery
may be pleaded as an absolute bar to any action brought against the holder by any other person
entitled thereto, or by any other claimant or state. Once properly pleaded, the holder shall
immediately and thereafter be relieved of and held harmless from...
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