§ 336-12-102

336.12-102 DEFINITIONS. (a) Article 12 definitions. In this article: (1) 'Controllable electronic record' means a record stored in an electronic medium that can be subjected to control under section 336.12-105. The term does not include a controllable account, a controllable payment intangible, a deposit account, an electronic copy of a record evidencing chattel paper, an electronic document of title, electronic money, investment property, or a transferable record. (2) 'Qualifying purchaser' means a purchaser of a controllable electronic record or an interest in a controllable electronic record that obtains control of the controllable electronic record for value, in good faith, and without notice of a claim of a property right in the controllable electronic record. (3) 'Transferable record' has the meaning provided for that term in: (A) Section 201(a)(1) of the Electronic Signatures in Global and National Commerce Act, United States Code, title 15, section 7021(a)(1), as amended; or (B) section 325L.16, paragraph (a). (4) 'Value' has the meaning provided in section 336.3-303(a), as if references in that subsection to an 'instrument' were references to a controllable account,

or (B) section 325L.16, paragraph (a). (4) 'Value' has the meaning provided in section 336.3-303(a), as if references in that subsection to an 'instrument' were references to a controllable account, controllable electronic record, or controllable payment intangible. (b) Definitions in Article 9. The definitions in article 9 of 'account debtor', 'controllable account', 'controllable payment intangible', 'chattel paper', 'deposit account', 'electronic money', and 'investment property' apply to this article. (c) Article 1 definitions and principles. Article 1 contains general definitions and principles of construction and interpretation applicable throughout this article. History: 2024 c 93 art 10 s 2

336.12-102 DEFINITIONS. (a) Article 12 definitions. In this article: (1) 'Controllable electronic record' means a record stored in an electronic medium that can be subjected to control under section 336.12-105. The term does not include a controllable account, a controllable payment intangible, a deposit account, an electronic copy of a record evidencing chattel paper, an electronic document of title, electronic money, investment property, or a transferable record. (2) 'Qualifying purchaser' means a purchaser of a controllable electronic record or an interest in a controllable electronic record that obtains control of the controllable electronic record for value, in good faith, and without notice of a claim of a property right in the controllable electronic record. (3) 'Transferable record' has the meaning provided for that term in: (A) Section 201(a)(1) of the Electronic Signatures in Global and National Commerce Act, United States Code, title 15, section 7021(a)(1), as amended; or (B) section 325L.16, paragraph (a). (4) 'Value' has the meaning provided in section 336.3-303(a), as if references in that subsection to an 'instrument' were references to a controllable account,

or (B) section 325L.16, paragraph (a). (4) 'Value' has the meaning provided in section 336.3-303(a), as if references in that subsection to an 'instrument' were references to a controllable account, controllable electronic record, or controllable payment intangible. (b) Definitions in Article 9. The definitions in article 9 of 'account debtor', 'controllable account', 'controllable payment intangible', 'chattel paper', 'deposit account', 'electronic money', and 'investment property' apply to this article. (c) Article 1 definitions and principles. Article 1 contains general definitions and principles of construction and interpretation applicable throughout this article. History: 2024 c 93 art 10 s 2