§ 25-2-21

25:2-21 Definitions: A to H. 25:2-21. Definitions: A to H. As used in this article: 'Affiliate' means: a. A person who directly or indirectly owns, controls, or holds with power to vote, 20% or more of the outstanding voting securities of the debtor, other than a person who holds the securities: (1) As a fiduciary or agent without sole discretionary power to vote the securities; or (2) Solely to secure a debt, if the person has not in fact exercised the power to vote; b. A corporation 20% or more of whose outstanding voting securities are directly or indirectly owned, controlled, or held with power to vote, by the debtor or a person who directly or indirectly owns, controls, or holds with power to vote, 20% or more of the outstanding voting securities of the debtor, other than a person who holds the securities: (1) As a fiduciary or agent without sole discretionary power to vote the securities; or (2) Solely to secure a debt, if the person has not in fact exercised the power to vote; c. A person whose business is operated by the debtor under a lease or other agreement, or a person substantially all of whose assets are controlled by the debtor; or d.

t exercised the power to vote; c. A person whose business is operated by the debtor under a lease or other agreement, or a person substantially all of whose assets are controlled by the debtor; or d. A person who operates the debtor's business under a lease or other agreement or controls substantially all of the debtor's assets. 'Asset' means property of a debtor, but the term does not include: a. Property to the extent it is encumbered by a valid lien; b. Property to the extent it is generally exempt under nonbankruptcy law; or c. An interest in property held in tenancy by the entireties to the extent it is not subject to process by a creditor holding a claim against only one tenant. 'Claim', except as used in 'claim for relief,' means a right to payment, whether or not the right is reduced to judgment, liquidated, unliquidated, fixed, contingent, matured, unmatured, disputed, undisputed, legal, equitable, secured, or unsecured. 'Creditor' means a person who has a claim. 'Debt' means liability on a claim. 'Debtor' means a person who is liable on a claim. 'Electronic' means relating to technology having electrical, digital, magnetic, wireless, optical, electromagnetic, or similar

liability on a claim. 'Debtor' means a person who is liable on a claim. 'Electronic' means relating to technology having electrical, digital, magnetic, wireless, optical, electromagnetic, or similar capabilities. amended 2021, c.92, s.2.