SB9-SSA1,33,1711 (Lm) "Instrument" means a negotiable instrument or any other writing that
12evidences a right to the payment of a monetary obligation, is not itself a security
13agreement or lease, and is of a type that in ordinary course of business is transferred
14by delivery with any necessary endorsement or assignment. The term does not
15include investment property; letters of credit; or writings that evidence a right to
16payment arising out of the use of a credit or charge card or information contained on
17or for use with the card.
SB9-SSA1,33,1818 (Ls) "Inventory" means goods, other than farm products, which:
SB9-SSA1,33,1919 1. Are leased by a person as lessor;
SB9-SSA1,33,2120 2. Are held by a person for sale or lease or to be furnished under a contract of
21service;
SB9-SSA1,33,2222 3. Are furnished by a person under a contract of service; or
SB9-SSA1,33,2423 4. Consist of raw materials, work in process, or materials used or consumed in
24a business.
SB9-SSA1,34,3
1(m) "Investment property" means a security, whether certificated or
2uncertificated, security entitlement, securities account, commodity contract, or
3commodity account.
SB9-SSA1,34,64 (mcm) "Issuer" means a bank or other person that issues a letter of credit, but
5does not include an individual who makes an engagement for personal, family, or
6household purposes.
SB9-SSA1,34,87 (mg) "Jurisdiction of organization", with respect to a registered organization,
8means the jurisdiction under whose law the organization is organized.
SB9-SSA1,34,139 (mkm) "Letter of credit" means a definite undertaking that satisfies the
10requirements of s. 405.104 by an issuer to a beneficiary at the request or for the
11account of an applicant or, in the case of a financial institution, to itself or for its own
12account, to honor a documentary presentation by payment or delivery of an item of
13value.
SB9-SSA1,34,1714 (mm) "Letter-of-credit right" means a right to payment or performance under
15a letter of credit, whether or not the beneficiary has demanded or is at the time
16entitled to demand payment or performance. The term does not include the right of
17a beneficiary to demand payment or performance under a letter of credit.
SB9-SSA1,34,1818 (ms) "Lien creditor" means:
SB9-SSA1,34,2019 1. A creditor that has acquired a lien on the property involved by attachment,
20levy, or the like;
SB9-SSA1,34,2121 2. An assignee for benefit of creditors from the time of assignment;
SB9-SSA1,34,2222 3. A trustee in bankruptcy from the date of the filing of the petition; or
SB9-SSA1,34,2323 4. A receiver in equity from the time of appointment.
SB9-SSA1,35,824 (n) "Manufactured home" means a structure, transportable in one or more
25sections, which, in the traveling mode, is 8 body feet or more in width or 40 body feet

1or more in length, or, when erected on site, is 320 or more square feet, and which is
2built on a permanent chassis and designed to be used as a dwelling with or without
3a permanent foundation when connected to the required utilities, and includes the
4plumbing, heating, air-conditioning, and electrical systems contained therein. The
5term includes any structure that meets all of the requirements of this paragraph
6except the size requirements and with respect to which the manufacturer voluntarily
7files a certification required by the U.S. secretary of housing and urban development
8and complies with the standards established under title 42 of the U.S. code.
SB9-SSA1,35,99 (ng) "Manufactured-home transaction" means a secured transaction:
SB9-SSA1,35,1110 1. That creates a purchase-money security interest in a manufactured home,
11other than a manufactured home held as inventory; or
SB9-SSA1,35,1312 2. In which a manufactured home, other than a manufactured home held as
13inventory, is the primary collateral.
SB9-SSA1,35,1514 (nm) "Mortgage" means a consensual interest in real property, including
15fixtures, which secures payment or performance of an obligation.
SB9-SSA1,35,1716 (ns) "New debtor" means a person that becomes bound as debtor under s.
17409.203 (4) by a security agreement previously entered into by another person.
SB9-SSA1,35,2118 (o) "New value" means money; money's worth in property, services, or new
19credit; or release by a transferee of an interest in property previously transferred to
20the transferee. The term does not include an obligation substituted for another
21obligation.
SB9-SSA1,35,2222 (odm) "Nominated person" means a person whom the issuer:
SB9-SSA1,35,2423 1. Designates or authorizes to pay, accept, negotiate, or otherwise give value
24under a letter of credit; and
SB9-SSA1,35,2525 2. Undertakes by agreement or custom and practice to reimburse.
SB9-SSA1,36,1
1(og) "Noncash proceeds" means proceeds other than cash proceeds.
SB9-SSA1,36,72 (om) "Obligor" means a person that, with respect to an obligation secured by
3a security interest in or an agricultural lien on the collateral, owes payment or other
4performance of the obligation; has provided property other than the collateral to
5secure payment or other performance of the obligation; or is otherwise accountable
6in whole or in part for payment or other performance of the obligation. The term does
7not include issuers or nominated persons under a letter of credit.
SB9-SSA1,36,108 (os) "Original debtor", except as used in s. 409.310 (3), means a person that, as
9debtor, entered into a security agreement to which a new debtor has become bound
10under s. 409.203 (4).
SB9-SSA1,36,1211 (p) "Payment intangible" means a general intangible under which the account
12debtor's principal obligation is a monetary obligation.
SB9-SSA1,36,1313 (pg) "Person related to", with respect to an individual, means:
SB9-SSA1,36,1414 1. The spouse of the individual;
SB9-SSA1,36,1515 2. A brother, brother-in-law, sister, or sister-in-law of the individual;
SB9-SSA1,36,1716 3. An ancestor or lineal descendant of the individual or the individual's spouse;
17or
SB9-SSA1,36,1918 4. Any other relative, by blood or marriage, of the individual or the individual's
19spouse who shares the same home with the individual.
SB9-SSA1,36,2020 (pm) "Person related to", with respect to an organization, means:
SB9-SSA1,36,2221 1. A person directly or indirectly controlling, controlled by, or under common
22control with the organization;
SB9-SSA1,36,2423 2. An officer or director of, or a person performing similar functions with respect
24to, the organization;
SB9-SSA1,37,2
13. An officer or director of, or a person performing similar functions with respect
2to, a person described in subd. 1.;
SB9-SSA1,37,33 4. The spouse of an individual described in subd. 1., 2., or 3.; or
SB9-SSA1,37,54 5. An individual who is related by blood or marriage to an individual described
5in subd. 1., 2., 3., or 4. and shares the same home with the individual.
SB9-SSA1,37,66 (ps) "Proceeds", except as used in s. 409.609 (2), means the following property:
SB9-SSA1,37,87 1. Whatever is acquired upon the sale, lease, license, exchange, or other
8disposition of collateral;
SB9-SSA1,37,99 2. Whatever is collected on, or distributed on account of, collateral;
SB9-SSA1,37,1010 3. Rights arising out of collateral;
SB9-SSA1,37,1311 4. To the extent of the value of collateral, claims arising out of the loss,
12nonconformity, or interference with the use of, defects or infringement of rights in,
13or damage to, the collateral; or
SB9-SSA1,37,1614 5. To the extent of the value of collateral and to the extent payable to the debtor
15or the secured party, insurance payable by reason of the loss or nonconformity of,
16defects or infringement of rights in, or damage to, the collateral.
SB9-SSA1,37,2017 (ptm) "Proceeds of a letter of credit" means the cash, check, accepted draft, or
18other item of value paid or delivered upon honor or giving of value by the issuer or
19any nominated person under the letter of credit. The term does not include a
20beneficiary's drawing rights or documents presented by the beneficiary.
SB9-SSA1,37,2221 (pu) "Production-money crops" means crops that secure a production-money
22obligation incurred with respect to the production of those crops.
SB9-SSA1,37,2523 (pv) "Production-money obligation" means an obligation of an obligor incurred
24for new value given to enable the debtor to produce crops if the value is in fact used
25for the production of the crops.
SB9-SSA1,38,2
1(pw) "Production of crops" means the use of seed, fertilizer, or chemicals for
2growing crops or protecting them from damage or disease.
SB9-SSA1,38,63 (q) "Promissory note" means an instrument that evidences a promise to pay a
4monetary obligation, does not evidence an order to pay, and does not contain an
5acknowledgment by a bank that the bank has received for deposit a sum of money
6or funds.
SB9-SSA1,38,107 (qg) "Proposal" means a record authenticated by a secured party which
8includes the terms on which the secured party is willing to accept collateral in full
9or partial satisfaction of the obligation it secures pursuant to ss. 409.620, 409.621,
10and 409.622.
SB9-SSA1,38,1211 (qm) "Public-finance transaction" means a secured transaction in connection
12with which:
SB9-SSA1,38,1313 1. Debt securities are issued;
SB9-SSA1,38,1514 2. All or a portion of the securities issued have an initial stated maturity of at
15least 20 years; and
SB9-SSA1,38,1816 3. The debtor, obligor, secured party, account debtor or other person obligated
17on collateral, assignor or assignee of a secured obligation, or assignor or assignee of
18a security interest is a state or a governmental unit of a state.
SB9-SSA1,38,2219 (qs) "Pursuant to commitment", with respect to an advance made or other value
20given by a secured party, means pursuant to the secured party's obligation, whether
21or not a subsequent event of default or other event not within the secured party's
22control has relieved or may relieve the secured party from its obligation.
SB9-SSA1,38,2523 (r) "Record", except as used in "for record", "of record", "record or legal title", and
24"record owner", means information that is inscribed on a tangible medium or which
25is stored in an electronic or other medium and is retrievable in perceivable form.
SB9-SSA1,39,4
1(rg) "Registered organization" means an organization organized solely under
2the law of a single state or the United States and as to which the state or the United
3States must maintain a public record showing the organization to have been
4organized.
SB9-SSA1,39,55 (rm) "Secondary obligor" means an obligor to the extent that:
SB9-SSA1,39,66 1. The obligor's obligation is secondary; or
SB9-SSA1,39,87 2. The obligor has a right of recourse with respect to an obligation secured by
8collateral against the debtor, another obligor, or property of either.
SB9-SSA1,39,99 (rs) "Secured party" means:
SB9-SSA1,39,1110 1. A person in whose favor a security interest is created or provided for under
11a security agreement, whether or not any obligation to be secured is outstanding;
SB9-SSA1,39,1212 2. A person that holds an agricultural lien;
SB9-SSA1,39,1313 3. A consignor;
SB9-SSA1,39,1514 4. A person to which accounts, chattel paper, payment intangibles, or
15promissory notes have been sold;
SB9-SSA1,39,1716 5. A trustee, indenture trustee, agent, collateral agent, or other representative
17in whose favor a security interest or agricultural lien is created or provided for; or
SB9-SSA1,39,1918 6. A person that holds a security interest arising under s. 402.401, 402.505,
19402.711 (3), 404.210, 405.118, or 411.508 (5).
SB9-SSA1,39,2120 (s) "Security agreement" means an agreement that creates or provides for a
21security interest.
SB9-SSA1,39,2222 (sg) "Send", in connection with a record or notification, means:
SB9-SSA1,39,2523 1. To deposit in the mail, deliver for transmission, or transmit by any other
24usual means of communication, with postage or cost of transmission provided for,
25addressed to any address reasonable under the circumstances; or
SB9-SSA1,40,2
12. To cause the record or notification to be received within the time that it would
2have been received if properly sent under subd. 1.
SB9-SSA1,40,53 (sm) "Software" means a computer program and any supporting information
4provided in connection with a transaction relating to the program. The term does not
5include a computer program that is included in the definition of goods.
SB9-SSA1,40,86 (ss) "State" means a state of the United States, the District of Columbia, Puerto
7Rico, the United States Virgin Islands, or any territory or insular possession subject
8to the jurisdiction of the United States.
SB9-SSA1,40,119 (t) "Supporting obligation" means a letter-of-credit right or secondary
10obligation that supports the payment or performance of an account, chattel paper,
11a document, a general intangible, an instrument, or investment property.
SB9-SSA1,40,1312 (tg) "Tangible chattel paper" means chattel paper evidenced by a record or
13records consisting of information that is inscribed on a tangible medium.
SB9-SSA1,40,1514 (tm) "Termination statement" means an amendment of a financing statement
15which:
SB9-SSA1,40,1716 1. Identifies, by its file number, the initial financing statement to which it
17relates; and
SB9-SSA1,40,1918 2. Indicates either that it is a termination statement or that the identified
19financing statement is no longer effective.
SB9-SSA1,40,2120 (ts) "Transmitting utility" means a person primarily engaged in the business
21of:
SB9-SSA1,40,2222 1. Operating a railroad, subway, street railway, or trolley bus;
SB9-SSA1,40,2323 2. Transmitting communications electrically, electromagnetically, or by light;
SB9-SSA1,40,2424 3. Transmitting goods by pipeline or sewer; or
SB9-SSA1,40,2525 4. Transmitting or producing and transmitting electricity, steam, gas, or water.
SB9-SSA1,41,2
1(2) Definitions in other chapters. The following definitions in other chapters
2apply to this chapter:
SB9-SSA1,41,33 (b) "Broker" — s. 408.102.
SB9-SSA1,41,44 (bm) "Certificated security" — s. 408.102.
Loading...
Loading...