MARVIN MANDEL, Governor

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(23)   A person is "insolvent" who either has ceased
to pay his debts in the ordinary course of business or
cannot pay his debts as they become due or is insolvent
within the meaning of the federal bankruptcy law.

(24)    "Money" means a medium of exchange authorized
or adopted by a domestic or foreign government as a part
of its currency.

(25)   A person has "notice" of a fact when

(a)   he has actual knowledge of it; or

(b)    He has received a notice or notification
of it; or

(c)   From all the facts and circumstances
known to him at the time in question he has reason to
know that it exists.

A person "knows" or has "knowledge" of a fact when
he has actual knowledge of it. "Discover" or "learn" or
a word or phrase of similar import refers to knowledge
rather than to reason to know. The time and
circumstances under which a notice or notification may
cease to be effective are not determined by TITLES 1
THROUGH 10 OF this article.

(26)    A person "notifies" or "gives" a notice or
notification to another by taking such steps as may be
reasonably required to inform the other in ordinary
course whether or not such other actually comes to know
of it. A person "receives" a notice or notification
when

(a)   It comes to his attention; or

(b)   It is duly delivered at the place of
business through which the contract was made or at any
other place held out by him as the place for receipt of
such communications.

(27)    Notice, knowledge or a notice or notification
received by an organization is effective for a particular
transaction from the time when it is brought to the
attention of the individual conducting that transaction.
and in any event from the time when it would have been
brought to his attention if the organization had
exercised due diligence. An organization exercises due
diligence if it maintains reasonable routines for
communicating significant information to the person
conducting the transaction and there is reasonable
compliance with the routine. Due diligence does not
require an individual acting for the organization to