There Is a Newer Version of the California Code
  1. 2025 California Code
  2. 2024 California Code
  3. 2023 California Code
  4. 2016 California Code (here)
  5. View All Versions
View Our Newest Version Here

2016 California Code
Commercial Code - COM
DIVISION 11 - FUNDS TRANSFERS
CHAPTER 1 - Subject Matter and Definitions
Section 11104.

Universal Citation:
CA Com Code ยง 11104 (2016)
Learn more This media-neutral citation is based on the American Association of Law Libraries Universal Citation Guide and is not necessarily the official citation.

11104. In this division:

(a) 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.

(b) Intermediary bank means a receiving bank other than the originator s bank or the beneficiary s bank.

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

(d) Originator s bank means (i) the receiving bank to which the payment order of the originator is issued if the originator is not a bank, or (ii) the originator if the originator is a bank.

(Added by Stats. 1990, Ch. 125, Sec. 2.)

Disclaimer: These codes may not be the most recent version. California may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.