Section 55-12-102 - Definitions(a) As used in Chapter 55, Article 12 NMSA 1978: (1) "controllable electronic record" means a record stored in an electronic medium that can be subjected to control pursuant to Section 55-12-105 NMSA 1978. 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 federal Electronic Signatures in Global and National Commerce Act, 15 U.S.C. Section 7021(a)(1), as amended; or(B) Subsection (a) of Section 14-16-16 NMSA 1978; and(4) "value" has the meaning provided in Subsection (a) of Section 55-3-303 NMSA 1978 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 the Uniform Commercial Code of "account debtor", "controllable account", "controllable payment intangible", "chattel paper", "deposit account", "electronic money" and "investment property" apply to Sections 55-12-101 through 55-12-106 NMSA 1978.(c) Article 1 of the Uniform Commercial Code contains general definitions and principles of construction and interpretation applicable throughout Sections 55-12-101 through 55-12-106 NMSA 1978.1978 Comp., § 55-12-102, enacted by Laws 1985, ch. 193, § 40.Added by 2023, c. 142,s. 97, eff. 1/1/2024.Prior version renumbered as § 55-11A-102 by 2023, c. 142,s. 95, eff. 1/1/2024.