As used in this chapter: (1) "Accession" means goods that are physically united with other goods in such a manner that the identity of the original goods is not lost. (2) (a) "Account," except as used in "account for," "account to," "commodity account" in Subsection (15), "customer's account," "deposit account" in Subsection (32), "on account of," and "statement of account," means a right to payment of a monetary obligation, whether earned by performance: (i) for property that has been or is to be sold, leased, licensed, assigned, or otherwise disposed of; (ii) for services rendered or to be rendered; (iii) for a policy of insurance issued or to be issued; (iv) for a secondary obligation incurred or to be incurred; (v) for energy provided or to be provided; (vi) for the use or hire of a vessel under a charter or other contract; (vii) arising out of the use of a credit or charge card or information contained on or for use with the card; or (viii) as winnings in a lottery or other game of chance operated or sponsored by a state, governmental unit of a state, or person licensed or authorized to operate the game by a state or governmental unit of a state. (b) "Account" includes controllable account and health-care-insurance receivables. (c) "Account" does not include: (i) chattel paper; (ii) commercial tort claims; (iii) deposit accounts; (iv) investment property; (v) letter-of-credit rights or letters of credit; (vi) rights to payment for money or funds advanced or sold, other than rights arising out of the use of a credit or charge card or information contained on or for use with the card; or (vii) rights to payment evidenced by an instrument. (3) (a) "Account debtor" means a person obligated on an account, chattel paper, or general intangible. (b) "Account debtor" does not include persons obligated to pay a negotiable instrument, even if the negotiable instrument evidences chattel paper. (4) "Accounting," except as used in "accounting for," means a record: (a) signed by a secured party; (b) indicating the aggregate unpaid secured obligations as of a date not more than 35 days earlier or 35 days later than the date of the record; and (c) identifying the components of the obligations in reasonable detail. (5) "Agricultural lien" means an interest, other than a security interest, in farm products: (a) which secures payment or performance of an obligation for: (i) goods or services furnished in connection with a debtor's farming operation; or (ii) rent on real property leased by a debtor in connection with a debtor's farming operation; (b) which is created by statute in favor of a person that: (i) in the ordinary course of the person's business furnished goods or services to a debtor in connection with a debtor's farming operation; or (ii) leased real property to a debtor in connection with the debtor's farming operation; and (c) whose effectiveness does not depend on the person's possession of the personal property. (6) "As-extracted collateral" means: (a) oil, gas, or other minerals that are subject to a security interest that: (i) is created by a debtor having an interest in the minerals before extraction; and (ii) attaches to the minerals as extracted; or (b) accounts arising out of the sale at the wellhead or minehead of oil, gas, or other minerals in which the debtor had an interest before extraction. (7) (a) "Assignee," except as used in "assignee for benefit of creditors," means a person: (i) in whose favor a security interest that secures an obligation is created or provided for under a security agreement, whether or not the obligation is outstanding; or (ii) to which an account, chattel paper, payment intangible, or promissory note has been sold. (b) "Assignee" includes a person to which a security interest has been transferred by a secured party. (8) (a) "Assignor" means a person that: (i) under a security agreement creates or provides for a security interest that secures an obligation; or (ii) sells an account, chattel paper, payment intangible, or promissory note. (b) "Assignor" includes a secured party that has transferred a security interest to another person. (9) (a) "Bank" means an organization that is engaged in the business of banking. (b) "Bank" includes: (i) a depository institution as defined in Section 7-1-103; and (ii) a trust company. (10) "Cash proceeds" means proceeds that are money, checks, deposit accounts, or the like. (11) (a) "Certificate of title" means a certificate of title with respect to which a statute provides for the security interest in question to be indicated on the certificate as a condition or result of the security interest's obtaining priority over the rights of a lien creditor with respect to the collateral. (b) "Certificate of title" includes another record maintained as an alternative to a certificate of title by the governmental unit that issues certificates of title if a statute permits the security interest in question to be indicated on the record as a condition or result of the security interest's obtaining priority over the rights of a lien creditor with respect to the collateral. (12) (a) "Chattel paper" means: (i) a right to payment of a monetary obligation secured by specific goods, if the right to payment and security agreement are evidenced by a record; or (ii) a right to payment of a monetary obligation owed by a lessee under a lease agreement with respect to specific goods and a monetary obligation owed by the lessee in connection with the transaction giving rise to the lease, if: (A) the right to payment and lease agreement are evidenced by a record; and (B) the predominant purpose of the transaction giving rise to the lease was to give the lessee the right to possession and use of the goods. (b) "Chattel paper" does not include a right to payment arising out of a charter or other contract involving the use or hire of a vessel or a right to payment arising out of the use of a credit or charge card or information contained on or for use with the card. (13) "Collateral" means the property subject to a security interest or agricultural lien. "Collateral" includes: (a) proceeds to which a security interest attaches; (b) accounts, chattel paper, payment intangibles, and promissory notes that have been sold; and (c) goods that are the subject of a consignment. (14) "Commercial tort claim" means a claim arising in tort with respect to which: (a) the claimant is an organization; or (b) the claimant is an individual and the claim: (i) arose in the course of the claimant's business or profession; and (ii) does not include damages arising out of personal injury to or the death of an individual. (15) "Commodity account" means an account maintained by a commodity intermediary in which a commodity contract is carried for a commodity customer. (16) "Commodity contract" means a commodity futures contract, an option on a commodity futures contract, a commodity option, or another contract if the contract or option is: (a) traded on or subject to the rules of a board of trade that has been designated as a contract market for such a contract in accordance with federal commodities laws; or (b) traded on a foreign commodity board of trade, exchange, or market, and is carried on the books of a commodity intermediary for a commodity customer. (17) "Commodity customer" means a person for which a commodity intermediary carries a commodity contract on the person's books. (18) "Commodity intermediary" means a person that: (a) is registered as a futures commission merchant under federal commodities law; or (b) in the ordinary course of the person's business provides clearance or settlement services for a board of trade that has been designated as a contract market in accordance with federal commodities law. (19) "Communicate" means: (a) to send a written or other tangible record; (b) to transmit a record by any means agreed upon by the persons sending and receiving the record; or (c) in the case of transmission of a record to or by a filing office, to transmit a record by any means prescribed by filing-office rule. (20) "Consignee" means a merchant to which goods are delivered in a consignment. (21) "Consignment" means a transaction, regardless of the transaction's form, in which a person delivers goods to a merchant for the purpose of sale and: (a) the merchant: (i) deals in goods of that kind under a name other than the name of the person making delivery; (ii) is not an auctioneer; and (iii) is not generally known by the merchant's creditors to be substantially engaged in selling the goods of others; (b) with respect to each delivery, the aggregate value of the goods is $1,000 or more at the time of delivery; (c) the goods are not consumer goods immediately before delivery; and (d) the transaction does not create a security interest that secures an obligation. (22) "Consignor" means a person that delivers goods to a consignee in a consignment. (23) "Consumer debtor" means a debtor in a consumer transaction. (24) "Consumer goods" means goods that are used or bought for use primarily for personal, family, or household purposes. (25) "Consumer-goods transaction" means a consumer transaction in which: (a) an individual incurs an obligation primarily for personal, family, or household purposes; and (b) a security interest in consumer goods secures the obligation. (26) "Consumer obligor" means an obligor who is an individual and who incurred the obligation as part of a transaction entered into primarily for personal, family, or household purposes. (27) (a) "Consumer transaction" means a transaction in which: (i) an individual incurs an obligation primarily for personal, family, or household purposes; (ii) a security interest secures the obligation; and (iii) the collateral is held or acquired primarily for personal, family, or household purposes. (b) "Consumer transaction" includes consumer-goods transactions. (28) "Continuation statement" means an amendment of a financing statement which: (a) identifies, by the amendment's file number, the initial financing statement to which the amendment relates; and (b) indicates that it is a continuation statement for, or that it is filed to continue the effectiveness of, the identified financing statement. (29) "Controllable account" means an account evidenced by a controllable electronic record that provides that the account debtor undertakes to pay the person that has control under Section
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