Laws of New York (Last Updated: November 21, 2014) |
UCC Uniform Commercial Code |
Article 9. SECURED TRANSACTIONS |
Part 1. GENERAL PROVISIONS |
SubPart 1. SHORT TITLE, DEFINITIONS, AND GENERAL CONCEPTS |
Section 2--401. 2--505, 2--711(3), 2-A-508(5), 4--210, or 5--118
Latest version.
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(73) "Security agreement" means an agreement that creates or provides for a security interest. A cooperative record that provides that the owner of a cooperative interest has an obligation to pay amounts to the cooperative organization incident to ownership of that cooperative interest and which states that the cooperative organization has a direct remedy against that cooperative interest if such amounts are not paid is a security agreement creating a cooperative organization security interest. (74) "Send", in connection with a record or notification, means: (A) to deposit in the mail, deliver for transmission, or transmit by any other usual means of communication, with postage or cost of transmission provided for, addressed to any address reasonable under the circumstances; or (B) to cause the record or notification to be received within the time that it would have been received if properly sent under subparagraph (A). (75) "Software" means a computer program and any supporting information provided in connection with a transaction relating to the program. The term does not include a computer program that is included in the definition of goods. (76) "State" means a state of the United States, the District of Columbia, Puerto Rico, the United States Virgin Islands, or any territory or insular possession subject to the jurisdiction of the United States. (77) "Supporting obligation" means a letter-of-credit right or secondary obligation that supports the payment or performance of an account, chattel paper, a document, a general intangible, an instrument, or investment property. (78) "Tangible chattel paper" means chattel paper evidenced by a record or records consisting of information that is inscribed on a tangible medium. (79) "Termination statement" means an amendment of a financing statement which: (A) identifies, by its file number, the initial financing statement to which it relates; and (B) indicates either that it is a termination statement or that the identified financing statement is no longer effective. (80) "Transmitting utility" means a person primarily engaged in the business of: (A) operating a railroad, subway, street railway, or trolley bus; (B) transmitting communications electrically, electromagnetically, or by light; (C) transmitting goods by pipeline or sewer; or (D) transmitting or producing and transmitting electricity, steam, gas, or water. (b) Definitions in other articles. The following definitions in other articles apply to this article: "Applicant" Section 5--102. "Beneficiary" Section 5--102. "Broker" Section 8--102. "Certificated security" Section 8--102. "Clearing corporation" Section 8--102. "Contract for sale" Section 2--106. "Customer" Section 4--104. "Entitlement holder" Section 8--102. "Financial asset" Section 8--102. "Holder in due course" Section 3--302. "Issuer" (with respect to a letter of credit or letter-of-credit right) Section 5--102. "Issuer" (with respect to a security) Section 8--201. "Lease" Section 2-A-103. "Lease agreement" Section 2-A-103. "Lease contract" Section 2-A-103. "Leasehold interest" Section 2-A-103. "Lessee" Section 2-A-103. "Lessee in ordinary course of business" Section 2-A-103. "Lessor" Section 2-A-103. "Lessor's residual interest" Section 2-A-103. "Letter of credit" Section 5--102. "Merchant" Section 2--104. "Negotiable instrument" Section 3--104. "Nominated person" Section 5--102. "Note" Section 3--104. "Proceeds of a letter of credit" Section 5--114. "Sale" Section 2--106. "Securities account" Section 8--501. "Securities intermediary" Section 8--102. "Security" Section 8--102. "Security certificate" Section 8--102. "Security entitlement" Section 8--102. "Uncertificated security" Section 8--102. (c) Article 1 definitions and principles. Article 1 contains general definitions and principles of construction and interpretation applicable throughout this article.