§12A-12-102. Definitions.
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/ok/title-12a-uniform-commercial-code/12a-12-102·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
DEFINITIONS
(a)In this article, unless the context otherwise requires:
(1)"Controllable electronic record" means a record stored in an electronic medium that can be subjected to control under Section 12-105 of this title. 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, investment property, a transferable record, or an electronic record that is a medium of exchange currently authorized or adopted by a domestic or foreign government and is not a medium of exchange that was recorded and transferable in a system that
existed and operated for the medium of exchange before the medium of exchange was authorized or adopted by the government.
(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:
(A)Section 201(a)(1) of the Electronic Signatures in
Global and National Commerce Act, 15 U.S.C., Section
7021(a)(1); or
(B)Subsection
(a)of Section 15-116 of Title 12A of the
Oklahoma Statutes.
(4)"Value" has the same meaning as provided in subsection
(a)of Section 3-303 of this title, as if references in that subsection to an "instrument" were references to a controllable account, controllable electronic record, or controllable payment intangible.
(b)The definitions in Article 9 of this title of "account debtor", "controllable account", "controllable payment intangible", "chattel paper", "deposit account", and "investment property" apply to this article.
(c)Article 1 of this title contains general definitions and principles of construction and interpretation applicable throughout this article. Added by Laws 2024, c. 13, § 92, eff. Nov. 1, 2024.