Section 15-102 - [Effective 7/1/2025] Definitions(1). For the purposes of this Article, unless the context otherwise indicates, the following terms have the following meanings. (a). "Adjustment date" means July 1, 2026. [2023, c. 669, Pt. C, §1 (NEW); 2023, c. 669, Pt. E, §1 (AFF).](b). "Article 12" means Article 12 of the Uniform Commercial Code. [2023, c. 669, Pt. C, §1 (NEW); 2023, c. 669, Pt. E, §1 (AFF).](c). "Article 12 property" means a controllable account, controllable electronic record or controllable payment intangible. [2023, c. 669, Pt. C, §1 (NEW); 2023, c. 669, Pt. E, §1 (AFF).] [2023, c. 669, Pt. C, §1 (NEW); 2023, c. 669, Pt. E, §1 (AFF).]
(2). The following definitions in other Articles of the Uniform Commercial Code apply to this Article: (a). "Controllable account," section 9-1102; [2023, c. 669, Pt. C, §1 (NEW); 2023, c. 669, Pt. E, §1 (AFF).](b). "Controllable electronic record," section 12-102; [2023, c. 669, Pt. C, §1 (NEW); 2023, c. 669, Pt. E, §1 (AFF).](c). . "Controllable payment intangible," section 9-1102; and [2023, c. 669, Pt. C, §1 (NEW); 2023, c. 669, Pt. E, §1 (AFF).](d). "Financing statement," section 9-1102. [2023, c. 669, Pt. C, §1 (NEW); 2023, c. 669, Pt. E, §1 (AFF).] [2023, c. 669, Pt. C, §1 (NEW); 2023, c. 669, Pt. E, §1 (AFF).]
(3). Article 1-A contains general definitions and principles of construction and interpretation applicable throughout this Article. [2023, c. 669, Pt. C, §1 (NEW); 2023, c. 669, Pt. E, §1 (AFF).]
Added by 2024, c. 669,§ C-1, eff. 7/1/2025.