Section 355.12-102 - Definitions [Effective 1/1/2025](1) In this article: (a)1. "Controllable electronic record" means a record stored in an electronic medium that can be subjected to control under KRS 355.12-105.2. The term does not include: a. A controllable account;b. A controllable payment intangible;d. An electronic copy of a record evidencing chattel paper;e. An electronic document of title;g. Investment property; orh. A transferable record;(b) "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;(c) "Transferable record" has the meaning provided for that term in:1. The Electronic Signatures in Global and National Commerce Act, 15 U.S.C. sec. 7021, as amended; or2. The Uniform Electronic Transactions Act, KRS 369.116; and(d) "Value" has the meaning provided in KRS 355.3-303(1), as if references in that subsection to an "instrument" were references to a controllable account, controllable electronic record, or controllable payment intangible.(2) The following definitions in Article 9 of this chapter apply to this article: (c) "Controllable account";(d) "Controllable payment intangible";(f) "Electronic money"; and(g) "Investment property."(3) Article 1 of this chapter contains general definitions and principles of construction and interpretation applicable throughout this article.Added by 2024 Ky. Acts ch. 10,§ 95, eff. 1/1/2025.