Ch. 92

1996 LAWS OF MARYLAND

"SECURITY CERTIFICATE." § 8-102.

"SECURITY ENTITLEMENT." § 8-102.

"UNCERTIFICATED SECURITY." § 8-102.

9-106.

"Account" means any right to payment for goods sold or leased or for services
rendered which is not evidenced by an instrument or chattel paper, whether or not it has
been earned by performance. "General intangibles" means any personal property
(including things in action and uncertificated general and limited partnership interests),
other than goods, accounts, chattel paper, documents, instruments, INVESTMENT
PROPERTY, and money. All rights to payment earned or unearned under a charter or
other contract involving the use or hire of a vessel and all rights incident to the charter or
contract are accounts.

9-115.

(1) IN THIS TITLE:

(A)     "COMMODITY ACCOUNT" MEANS AN ACCOUNT MAINTAINED BY A
COMMODITY INTERMEDIARY IN WHICH A COMMODITY CONTRACT IS CARRIED FOR
A COMMODITY CUSTOMER.

(B)     "COMMODITY CONTRACT" MEANS A COMMODITY FUTURES
CONTRACT, AN OPTION ON A COMMODITY FUTURES CONTRACT, A COMMODITY
OPTION, OR OTHER CONTRACT THAT, IN EACH CASE, IS:

(I) TRADED ON OR SUBJECT TO THE RULES OF A BOARD OF
TRADE THAT HAS BEEN DESIGNATED AS A CONTRACT MARKET FOR SUCH A
CONTRACT PURSUANT TO THE FEDERAL COMMODITIES LAWS; OR

(II) TRADED ON A FOREIGN COMMODITY BOARD OF TRADE,
EXCHANGE, OR MARKET, AND IS CARRIED ON THE BOOKS OF A COMMODITY
INTERMEDIARY FOR A COMMODITY CUSTOMER.

(C)     "COMMODITY CUSTOMER" MEANS A PERSON FOR WHOM A
COMMODITY INTERMEDIARY CARRIES A COMMODITY CONTRACT ON ITS BOOKS.

(D)    "COMMODITY INTERMEDIARY' MEANS:

(I)      A PERSON WHO IS REGISTERED AS A FUTURES COMMISSION
MERCHANT UNDER THE FEDERAL COMMODITIES LAWS; OR

(II)     A PERSON WHO IN THE ORDINARY COURSE OF ITS BUSINESS
PROVIDES CLEARANCE OR SETTLEMENT SERVICES FOR A BOARD OF TRADE THAT
HAS BEEN DESIGNATED AS A CONTRACT MARKET PURSUANT TO THE FEDERAL
COMMODITIES LAWS.

(E)     "CONTROL" WITH RESPECT TO, A CERTIFICATED SECURITY,
UNCERTIFICATED SECURITY, OR SECURITY ENTITLEMENT HAS THE MEANING
SPECIFIED IN § 8-106. A SECURED PARTY HAS CONTROL OVER A COMMODITY
CONTRACT IF BY AGREEMENT AMONG THE COMMODITY CUSTOMER, THE

- 1330 -