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Session Laws, 1999
Volume 796, Page 2045   View pdf image
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(62) "PERSON RELATED TO", WITH RESPECT TO AN INDIVIDUAL, MEANS:

(A) THE SPOUSE OF THE INDIVIDUAL;

(B) A BROTHER, BROTHER-IN-LAW, SISTER, OR SISTER-IN-LAW OF
THE INDIVIDUAL;

(C) AN ANCESTOR OR LINEAL DESCENDANT OF THE INDIVIDUAL
OR THE INDIVIDUAL'S SPOUSE; OR

(D) ANY OTHER RELATIVE, BY BLOOD OR MARRIAGE, OF THE
INDIVIDUAL OR THE INDIVIDUAL'S SPOUSE WHO SHARES THE SAME HOME WITH THE
INDIVIDUAL.

(63) "PERSON RELATED TO", WITH RESPECT TO AN ORGANIZATION,

MEANS:

(A) A PERSON DIRECTLY OR INDIRECTLY CONTROLLING,
CONTROLLED BY, OR UNDER COMMON CONTROL WITH THE ORGANIZATION;

(B) AN OFFICER OR DIRECTOR OF, OR A PERSON PERFORMING
SIMILAR FUNCTIONS WITH RESPECT TO, THE ORGANIZATION;

(C) AN OFFICER OR DIRECTOR OF, OR A PERSON PERFORMING
SIMILAR FUNCTIONS WITH RESPECT TO, A PERSON DESCRIBED IN SUBPARAGRAPH

(A);

(D) THE SPOUSE OF AN INDIVIDUAL DESCRIBED IN
SUBPARAGRAPH (A), (B), OR (C); OR

(E) AN INDIVIDUAL WHO IS RELATED BY BLOOD OR MARRIAGE TO
AN INDIVIDUAL DESCRIBED IN SUBPARAGRAPH (A), (B), (C), OR (D) AND SHARES THE
SAME HOME WITH THE INDIVIDUAL.

(64) "PROCEEDS" MEANS THE FOLLOWING PROPERTY:

(A) WHATEVER IS ACQUIRED UPON THE SALE, LEASE, LICENSE,
EXCHANGE, OR OTHER DISPOSITION OF COLLATERAL;

(B) WHATEVER IS COLLECTED ON, OR DISTRIBUTED ON ACCOUNT
OF, COLLATERAL;

(C) RIGHTS ARISING OUT OF COLLATERAL;

(D) TO THE EXTENT OF THE VALUE OF COLLATERAL, CLAIMS
ARISING OUT OF THE LOSS, NONCONFORMITY, OR INTERFERENCE WITH THE USE OF,
DEFECTS OR INFRINGEMENT OF RIGHTS IN, OR DAMAGE TO, THE COLLATERAL; OR

(E) TO THE EXTENT OF THE VALUE OF COLLATERAL AND TO THE
EXTENT PAYABLE TO THE DEBTOR OR THE SECURED PARTY, INSURANCE PAYABLE
BY REASON OF THE LOSS OR NONCONFORMITY OF, DEFECTS OR INFRINGEMENT OF
RIGHTS IN, OR DAMAGE TO, THE COLLATERAL.

 

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Session Laws, 1999
Volume 796, Page 2045   View pdf image
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