DEFINITIONS
- (a) As used in this article:
- (1) "Adjustment date" means July 1, 2025, or the date that is one (1) year after the effective date of this act, whichever is later;
- (2) "Article 12" means Article 12 of the Uniform Commercial Code; and
- (3) "Article 12 property" means a controllable account, controllable electronic record, or controllable payment intangible.
(b) The following definitions in other articles of the Uniform Commercial Code apply to this article:
"Controllable account", Section 1-9-102 of this title.
"Controllable electronic record", Section 12-102 of this title.
"Controllable payment intangible", Section 1-9-102 of this title.
"Financing statement", Section 1-9-102 of this title.
- (c) Article 1 of this title contains general definitions and principles of construction and interpretation applicable throughout this article.
Laws 2024, HB 2776, c. 13, § 99, eff. November 1, 2024.