(a) Chapter 12 of title 6A definitions. In this chapter: (1) 'Controllable electronic record' means a record stored in an electronic medium that can be subjected to control under § 6A-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: (i) Section 201(a)(1) of the Electronic Signatures in Global and National Commerce Act, 15 U.S.C. § 7021(a)(1); or (ii) Section 42-127.1-16(a) of the Uniform Electronic Transactions Act. (4) 'Value' has the meaning provided in § 6A-3-303(a), as if references in that subsection to an 'instrument' were references to a controllable account, a) of the Uniform Electronic Transactions Act. (4) 'Value' has the meaning provided in § 6A-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 chapter 9 of title 6A. The definitions in chapter 9 of this title of 'account debtor', 'controllable account', 'controllable payment intangible', 'chattel paper', 'deposit account', 'electronic money', and 'investment property' apply to this chapter. (c) Chapter 1 of title 6A definitions and principles. Chapter 1 of this title contains general definitions and principles of construction and interpretation applicable throughout this chapter. History of Section.P.L. 2024, ch. 65, § 11, effective June 10, 2024; P.L. 2024, ch. 66, § 11, effective June 10, 2024.
Rhode Island Legal Code