§ 11-12-102 — Definitions

(a) Article 12 definitions. As used in this article, the term: (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) "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) "Transferable record" has the meaning provided for that term in: (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 (B) Subsection (a) of Code Section 10-12-16 . (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. (b) 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. (c) Article 1 definitions and principles. Article 1 of this title contains general definitions and principles of construction and interpretation applicable throughout this article.

Legislative History

Added by 2024 Ga. Laws 600,§ 3-1, eff. 7/1/2024. Renumbered as §11-13-102by 2024 Ga. Laws 600,§ 2-1, eff. 7/1/2024.