Ch. 91

1996 LAWS OF MARYLAND

4-104.

[(1)](A) In this [title] TITLE, unless the context otherwise [ requires]
REQUIRES:

[(a)] (1) "Account" means any DEPOSIT OR CREDIT account with a bank
[ and includes a checking, time, interest or savings account], INCLUDING A DEMAND,
TIME, SAVINGS, PASSBOOK, SHARE DRAFT, OR LIKE ACCOUNT, OTHER THAN AN
ACCOUNT EVIDENCED BY A CERTIFICATE OF DEPOSIT;

[(b)] (2) "Afternoon" means the period of a day between noon and
midnight;

[(c)] (3) "Banking day" means [that] THE part of [any] A day,
EXCLUDING SATURDAY, SUNDAY, OR A LEGAL HOLIDAY, on which a bank is open to
the public for carrying on substantially all of its banking functions;

[(d)](4) ["Clearing house"] "CLEARING-HOUSE" means [any] AN
association of banks or other payors regularly clearing items;

[(e)] (5) "Customer" means [ any] A person having an account with a bank
or for whom a bank has agreed to collect items [ and includes], INCLUDING a bank
[carrying] THAT MAINTAINS an account [ with] AT another bank;

[(f)] (6) "Documentary draft" means [any negotiable or nonnegotiable
draft with accompanying documents, securities or other papers to be delivered against
honor of the draft] A DRAFT TO BE PRESENTED FOR ACCEPTANCE OR PAYMENT IF
SPECIFIED DOCUMENTS, CERTIFICATED SECURITIES (§ 8-102) OR INSTRUCTIONS FOR
UNCERTIFICATED SECURITIES (§ 8-308), 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 § 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;

[(g)](9) "Item" means [any instrument for the payment of money even
though it is not negotiable but does not include money] 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 TITLE
4A OR A CREDIT OR DEBIT CARD SUP;

[(h)] (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;

[(i) "Property payable" includes the availability of funds for payment at the.
time of decision to pay or dishonor;]

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