554.14102 Definitions.
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/ia/chapter-554-uniform-commercial-code/554-14102A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
1. Article 14 definitions. In this Article:
a. “Controllable electronic record” means a record stored in an electronic medium that can be subjected to control under section 554.14105. 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.
b. “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.
c. “Transferable record” has the meaning provided for that term in:
(1)section 201(a)(1) of the Electronic Signatures in Global and National Commerce Act, 15 U.S.C. §7021(a)(1), as amended; or
(2)the Uniform Electronic Transactions Act, section 554D.118, subsection 1.
d. “Value” has the meaning provided in section 554.3303, subsection 1, as if references in that subsection to an “instrument” were references to a controllable account, controllable electronic record, or controllable payment intangible.
2. 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.
3. Article 1 definitions and principles. Article 1 contains general definitions and principles of construction and interpretation applicable throughout this Article.
Referred to in §554.8102, 554.9102, 554.15102