N.D. Cent. Code § 41-12-02: (12-102) Definitions

1.In this chapter:

a."Controllable electronic record" means a record stored in an electronic medium that can be subjected to control under section 41-12-05. 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.

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)Section 201(a)(1) of the Electronic Signatures in Global and National Commerce Act [Pub. L. 106-229; 114 Stat. 473; 15 U.S.C. Section 7021(a)

(1)]; or

(2)Subsection 1 of section 9-16-15.

d."Value" has the meaning provided in subsection 1 of section 41-03-29, as if references in that subsection to an "instrument" were references to a controllable account, controllable electronic record, or controllable payment intangible.

2.The definitions in chapter 41-09 of "account debtor", "controllable account", "controllable payment intangible", "chattel paper", "deposit account", "electronic money", and "investment property" apply to this chapter.

3.Chapter 41-01 contains general definitions and principles of construction and interpretation applicable throughout this title.