§ 25-12-102. Definitions.
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§ 25-12-102. Definitions.
(a)Article 12 Definitions. - In this Article, the following definitions apply:
(1)Account debtor. - Defined in G.S. 25-9-102.
(2)Chattel paper. - Defined in G.S. 25-9-102.
(3)Controllable account. - Defined in G.S. 25-9-102.
(4)Controllable electronic record. - A record stored in an electronic medium that can be subjected to control under G.S. 25-12-105. 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.
(5)Controllable payment intangible. - Defined in G.S. 25-9-102.
(6)Deposit account. - Defined in G.S. 25-9-102.
(7)Electronic money. - Defined in G.S. 25-9-102.
(8)Investment property. - Defined in G.S. 25-9-102.
(9)Qualifying purchaser. - 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.
(10)Transferable record. - Has the meaning provided for that term in either of the following:
a. Section 201(a)(1) of the Electronic Signatures in Global and National Commerce Act, 15 U.S.C. § 7021(a)(1).
b. G.S. 66-326(a).
(11)Value. - Has the meaning provided in G.S. 25-3-303(a), as if references in that subsection to an "instrument" were references to a controllable account, controllable electronic record, or controllable payment intangible.
(b)Article 1 Definitions and Principles. - Article 1 of this Chapter contains general definitions and principles of construction and interpretation applicable throughout this Article. (2025-25, s. 57.)