Terms Used In Montana Code > Title 32 > Chapter 6 - Electronic Funds Transfer Act
Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
Electronic funds transfer: The transfer of money between accounts by consumer electronic systems-such as automated teller machines (ATMs) and electronic payment of bills-rather than by check or cash. (Wire transfers, checks, drafts, and paper instruments do not fall into this category.) Source: OCC
Electronic funds transfer: means any transfer of funds, other than a transaction originated by check, draft, or similar paper instrument that is initiated through an electronic terminal, telephone, computer, or magnetic tape for the purpose of ordering, instructing, or authorizing a financial institution to debit or credit an account. See Montana Code 32-6-103
Electronic terminal: means an electronic device, other than a telephone operated by a consumer, through which a consumer may initiate an electronic funds transfer. See Montana Code 32-6-103
Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
Financial institution: means a bank chartered under chapter 1 of this title, a bank chartered under the National Banking Acts in Title 12 of the United States Code, a building and loan association chartered under chapter 2 of this title, a savings and loan association chartered under the Home Owners' Loan Act in Title 12 of the United States Code, a credit union chartered under chapter 3 of this title, or a credit union chartered under the Federal Credit Union Act in Title 12 of the United States Code. See Montana Code 32-6-103
Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
Merchant: means a natural person, corporation, partnership, or association engaged in buying and selling goods or services, except that a financial institution is not a merchant. See Montana Code 32-6-103
Mortgagor: The person who pledges property to a creditor as collateral for a loan and who receives the money.
Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
Person: means an individual, partnership, corporation, association, or any other business organization. See Montana Code 32-6-103
Premises: means those locations where, by applicable law, financial institutions are authorized to maintain a principal place of business and other offices for the conduct of their respective businesses. See Montana Code 32-6-103
Satellite terminal: means any machine or device that is located off the premises of a financial institution and that a financial institution or its customers may use to carry out electronic funds transfers. See Montana Code 32-6-103
State: when applied to the different parts of the United States, includes the District of Columbia and the territories. See Montana Code 1-1-201
Subpoena: A command to a witness to appear and give testimony.
Unique identification device: means a magnetic encoded plastic card or equivalent device that contains either a number or a dollar balance, or both, that is unique to a customer and that is issued by a financial institution, merchant, or other person. See Montana Code 32-6-103