Haw. Rev. Stat. § 490:12-102

Current through the 2024 Legislative Session

Section 490:12-102 - Definitions

(a) In this article:

"Controllable electronic record" means a record stored in an electronic medium that may be subjected to control under section 490:12-105. "Controllable electronic record" 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.

"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.

"Transferable record" has the same meaning as in:

(1) Section 201(a)(1) of the Electronic Signatures in Global and National Commerce Act, title 15 United States Code section 7021 (a)(1), as amended; or

(2) Section 489E-16(a).

"Value" has the same meaning as in section 490:3-303(a), as if references in that section to an "instrument" were references to a controllable account, controllable electronic record, or controllable payment intangible.

(b) The following definitions in other articles of this chapter shall apply to this article:

"Account debtor". Section 490:9-102.

"Chattel paper". Section 490:9-102.

"Controllable account". Section 490:9-102.

"Controllable payment intangible". Section 490:9-102.

"Deposit account". Section 490:9-102.

"Electronic money". Section 490:9-102.

"Investment property". Section 490:9-102.

(c) Article 1 contains general definitions and principles of construction and interpretation applicable throughout this article.

HRS § 490:12-102

Added by L 2023, c 132,§ 1, eff. 6/29/2023.