11-12-102. Definitions.

Article 12 definitions. As used in this article, the term:#

1. (1)

   “Controllable electronic record” means a record stored in an electronic medium that can be subjected to control under Code Section 11-12-105. 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. (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. (3)

   “Transferable record” has the meaning provided for that term in:#

   1. (A)

      Section 201(a)(1) of the Electronic Signatures in Global and National Commerce Act, 15 U.S.C. Section 7021(a)(1), as amended; or#

   2. (B)

      Subsection (a) of Code Section 10-12-16.#

4. (4)

   “Value” has the meaning provided in subsection (a) of Code Section 11-3-303, as if references in that subsection to an “instrument” were references to a controllable account, controllable electronic record, or controllable payment intangible.#

Definitions in Article 9. The definitions in Article 9 of this title of “account debtor,” “controllable account,” “controllable payment intangible,” “chattel paper,” “deposit account,” “electronic money,” and “investment property” apply to this article.#

Article 1 definitions and principles. Article 1 of this title contains general definitions and principles of construction and interpretation applicable throughout this article.#