Neb. U.C.C. § 12-102

Current with changes from the 2024 Legislative Session
Section 12-102 - Definitions
(a) In this article:
(1) "Controllable electronic record" means a record stored in an electronic medium that can be subjected to control under section 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.
(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) Section 16(a) of the Uniform Electronic Transactions Act.
(4) "Value" has the meaning provided in section 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) 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.
(c) Article 1 contains general definitions and principles of construction and interpretation applicable throughout this article.

Neb. U.C.C. § 12-102

Laws 2021, LB 649, § 60; Laws 2024, LB 94, § 93.
Amended by Laws 2024, LB 94,§ 93, eff. 7/19/2024.
Added by Laws 2021, LB 649,§ 60, eff. 8/28/2021, op. 7/1/2022.