2007 ORS 74A.1040¹
Funds transfer
  • definitions

As used in this chapter:

(1) "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.

(2) "Intermediary bank" means a receiving bank other than the originator’s bank or the beneficiary’s bank.

(3) "Originator" means the sender of the first payment order in a funds transfer.

(4) "Originator’s bank" means:

(a) The receiving bank to which the payment order of the originator is issued if the originator is not a bank; or

(b) The originator if the originator is a bank. [1991 c.442 §4]

1 Legislative Counsel Committee, CHAPTER 74A—Funds Transfers, https://­www.­oregonlegislature.­gov/­bills_laws/­ors/­074a.­html (2007) (last ac­cessed Feb. 12, 2009).
 
2 OregonLaws.org contains the con­tents of Volume 21 of the ORS, inserted along­side the per­tin­ent statutes. See the preface to the ORS An­no­ta­tions for more information.
 
3 OregonLaws.org assembles these lists by analyzing references between Sections. Each listed item refers back to the current Section in its own text. The result reveals relationships in the code that may not have otherwise been apparent.