§12-102. Definitions
(a)Chapter 12 definitions. In this Chapter:
(1)"Controllable electronic record" means a record stored in an electronic medium
that can be subjected to control under R.S. 10:12-105. 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, investment property, or
a transferable record. The term also does not include an electronic record that is currently
authorized or adopted by a domestic or foreign government and is not a medium of exchange
that was recorded and transferable in a system that existed and operated for the medium of
exchange before the medium of exchange was authorized or adopted by a government.
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§12-102. Definitions
(a) Chapter 12 definitions. In this Chapter:
(1) "Controllable electronic record" means a record stored in an electronic medium
that can be subjected to control under R.S. 10:12-105. 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, investment property, or
a transferable record. The term also does not include an electronic record that is currently
authorized or adopted by a domestic or foreign government and is not a medium of exchange
that was recorded and transferable in a system that existed and operated for the medium of
exchange before the medium of exchange was authorized or adopted by a government.
(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. 7021(a)(1), as amended; or
(B) R.S. 9:2616(A).
(4) "Value" has the meaning provided in R.S. 10:3-303(a), 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 Chapter 9. The definitions provided in Chapter 9 of this Title of
"account debtor", "controllable account", "controllable payment intangible", "chattel paper",
"deposit account", and "investment property" apply to this Chapter.
(c) Chapter 1 definitions and principles. Chapter 1 of this Title contains general
definitions and principles of construction and interpretation applicable throughout this
Chapter.