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Iowa Code Title XIII. Commerce [Chs. 505-554D] § 554.14102. Definitions

Current as of January 01, 2024 | Updated by FindLaw Staff

1. Article 14 definitions. In this Article:

a. “Controllable electronic record” means a record stored in an electronic medium that can be subjected to control under section 554.14105. The term does not include a deposit account, electronic chattel paper, electronic copy of a record evidencing chattel paper, electronic document of title, electronic money, investment property, or a transferable record.

b. “Qualifying purchaser” means a purchaser of a controllable electronic record or an interest in the 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” means:

(1) “Transferable record”, as defined in the federal Electronic Signatures in Global and National Commerce Act, 15 U.S.C. § 7021(a)(1), as amended.

(2) “Transferable record” as defined in the uniform electronic transactions Act, section 554D.118, subsection 1.

d. “Value” has the meaning provided in section 554.3303, subsection 1.

2. Definitions in Article 9. The definitions in Article 9 of “account debtor”, “authenticate”, “controllable account”, “controllable payment intangible”, “chattel paper”, “deposit account”, “electronic chattel paper”, “electronic money”, and “investment property” apply to this Article.

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Cite this article: FindLaw.com - Iowa Code Title XIII. Commerce [Chs. 505-554D] § 554.14102. Definitions - last updated January 01, 2024 | https://codes.findlaw.com/ia/title-xiii-commerce-chs-505-554d/ia-code-sect-554-14102/

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