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Session Laws, 1999
Volume 796, Page 2043   View pdf image
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IS NOT ITSELF A SECURITY AGREEMENT OR LEASE, AND IS OF A TYPE THAT IN
ORDINARY COURSE OF BUSINESS IS TRANSFERRED BY DELIVERY WITH ANY
NECESSARY INDORSEMENT OR ASSIGNMENT. THE TERM DOES NOT INCLUDE (I)
INVESTMENT PROPERTY, (II) LETTERS OF CREDIT, OR (III) WRITINGS THAT EVIDENCE
A RIGHT TO PAYMENT ARISING OUT OF THE USE OF A CREDIT OR CHARGE CARD OR
INFORMATION CONTAINED ON OR FOR USE WITH THE CARD.

(48) "INVENTORY' MEANS GOODS, OTHER THAN FARM PRODUCTS,

WHICH:

(A) ARE LEASED BY A PERSON AS LESSOR;

(B) ARE HELD BY A PERSON FOR SALE OR LEASE OR TO BE
FURNISHED UNDER A CONTRACT OF SERVICE;

(C) ARE FURNISHED BY A PERSON UNDER A CONTRACT OF

SERVICE; OR

(D) CONSIST OF RAW MATERIALS, WORK IN PROCESS, OR
MATERIALS USED OR CONSUMED IN A BUSINESS.

(49) "INVESTMENT PROPERTY" MEANS A SECURITY, WHETHER
CERTIFICATED OR UNCERTIFICATED, SECURITY ENTITLEMENT, SECURITIES
ACCOUNT, COMMODITY CONTRACT, OR COMMODITY ACCOUNT.

(50) "JURISDICTION OF ORGANIZATION", WITH RESPECT TO A
REGISTERED ORGANIZATION, MEANS THE JURISDICTION UNDER WHOSE LAW THE
ORGANIZATION IS ORGANIZED.

(51) "LETTER-OF-CREDIT RIGHT" MEANS A RIGHT TO PAYMENT AND
PERFORMANCE UNDER A LETTER OF CREDIT, WHETHER OR NOT THE BENEFICIARY
HAS DEMANDED OR IS AT THE TIME ENTITLED TO DEMAND PAYMENT OR
PERFORMANCE. THE TERM DOES NOT INCLUDE THE RIGHT OF A BENEFICIARY TO
DEMAND PAYMENT OR PERFORMANCE UNDER A LETTER OF CREDIT.

(52) "LIEN CREDITOR" MEANS:

(A) A CREDITOR THAT HAS ACQUIRED A LIEN ON THE PROPERTY
INVOLVED BY ATTACHMENT, LEVY, OR THE LIKE;

(B) AN ASSIGNEE FOR BENEFIT OF CREDITORS FROM THE TIME OF

ASSIGNMENT;

(C) A TRUSTEE IN BANKRUPTCY FROM THE DATE OF THE FILING
OF THE PETITION; OR

(D) A RECEIVER IN EQUITY FROM THE TIME OF APPOINTMENT.

(53) "MANUFACTURED HOME" MEANS A STRUCTURE, TRANSPORTABLE IN
ONE OR MORE SECTIONS, WHICH, IN THE TRAVELING MODE, IS EIGHT BODY FEET OR
MORE IN WIDTH OR 40 BODY FEET OR MORE IN LENGTH, OR, WHEN ERECTED ON
SITE, IS 320 OR MORE SQUARE FEET, AND WHICH IS BUILT ON A PERMANENT CHASSIS
AND DESIGNED TO BE USED AS A DWELLING WITH OR WITHOUT A PERMANENT

 

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Session Laws, 1999
Volume 796, Page 2043   View pdf image
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