Arizona Laws 44-6851. Definitions
In this chapter, unless the context otherwise requires:
Terms Used In Arizona Laws 44-6851
- Check: means a draft that is payable on demand and drawn on a financial institution, a cashier's check or a teller's check. See Arizona Laws 44-6851
- Draft: means an item, other than an instrument, that is an order. See Arizona Laws 44-6851
- Financial institution: means a bank, savings and loan association or credit union that is chartered and supervised under state or federal law. See Arizona Laws 44-6851
- including: means not limited to and is not a term of exclusion. See Arizona Laws 1-215
- Order: means a written instruction to pay money that is signed by the person giving the instruction. See Arizona Laws 44-6851
- Person: means an individual, corporation, partnership, association, joint stock company or trust, limited liability company, government or governmental subdivision or agency or any other unincorporated organization. See Arizona Laws 44-1801
1. "Check" means a draft that is payable on demand and drawn on a financial institution, a cashier’s check or a teller’s check.
2. "Draft" means an item, other than an instrument, that is an order.
3. "Drawer" means a person who signs or is identified in a draft as a person ordering payment.
4. "Financial institution" means a bank, savings and loan association or credit union that is chartered and supervised under state or federal law.
5. "Holder" means a person, including this state, who is entitled to enforce an instrument.
6. "Maker" means a person who signs or is identified in a note as a person undertaking to pay.
7. "Order" means a written instruction to pay money that is signed by the person giving the instruction. The instruction may be addressed to any person, including this state or the person giving the instruction, or to one or more persons, including this state, jointly or in the alternative but not in succession.
8. "Payee" means a person, including this state, in whose favor an instrument is drawn or made payable.