Section 12-102 - [Effective 11/1/2024] Definitions(a) In this article, unless the context otherwise requires: (1) "Controllable electronic record" means a record stored in an electronic medium that can be subjected to control under Section 12-105 of this title. 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, a transferable record, or an electronic record that is a medium of exchange 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 the 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., Section 7021(a)(1); or(B) Subsection (a) of Section 15-116 of Title 12A of the Oklahoma Statutes.(4) "Value" has the same meaning as provided in subsection (a) of Section 3-303 of this title, as if references in that subsection to an "instrument" were references to a controllable account, controllable electronic record, or controllable payment intangible.(b) The definitions in Article 9 of this title of "account debtor", "controllable account", "controllable payment intangible", "chattel paper", "deposit account", and "investment property" apply to this article.(c) Article 1 of this title contains general definitions and principles of construction and interpretation applicable throughout this article.Okla. Stat. tit. 12A, § 12-102
Added by Laws 2024, c. 13,s. 92, eff. 11/1/2024.