{"data":{"id":"us-nc/n.c.-gen.-stat.-25-9-102","jurisdiction":"us-nc","citation":"N.C. Gen. Stat. § 25-9-102","heading":"Definitions and index of definitions.","body":"(a)\tArticle 9 Definitions. - In this Article, the following definitions apply:\n(1)\tAccession. - Goods that are physically united with other goods in a manner in which the identity of the original goods is not lost.\n(2)\tAccount. - Except as used in \"account for,\" \"account statement,\" \"account to,\" \"commodity account,\" \"customer's account,\" \"deposit account,\" \"on account of,\" and \"statement of account,\" means a right to payment of a monetary obligation, whether or not earned by performance, (i) for property that has been or is to be sold, leased, licensed, assigned, or otherwise disposed of, (ii) for services rendered or to be rendered, (iii) for a policy of insurance issued or to be issued, (iv) for a secondary obligation incurred or to be incurred, (v) for energy provided or to be provided, (vi) for the use or hire of a vessel under a charter or other contract, (vii) arising out of the use of a credit or charge card or information contained on or for use with the card, or (viii) as winnings in a lottery or other game of chance operated or sponsored by a state, governmental unit of a state, or person licensed or authorized to operate the game by a state or governmental unit of a state. The term includes controllable accounts and health-care-insurance receivables. The term does not include (i) chattel paper, (ii) commercial tort claims, (iii) deposit accounts, (iv) investment property, (v) letter-of-credit rights or letters of credit, (vi) rights to payment for money or funds advanced or sold, other than rights arising out of the use of a credit or charge card or information contained on or for use with the card, or (vii) rights to payment evidenced by an instrument.\n(3)\tAccount debtor. - A person obligated on an account, chattel paper, or general intangible. The term does not include persons obligated to pay a negotiable instrument, even if the negotiable instrument evidences chattel paper.\n(4)\tAccounting. - Except as used in \"accounting for,\" means a record that meets all of the following requirements:\na.\tSigned by a secured party.\nb.\tIndicating the aggregate unpaid secured obligations as of a date not more than 35 days earlier or 35 days later than the date of the record.\nc.\tIdentifying the components of the obligations in reasonable detail.\n(5)\tAgricultural lien. - An interest, other than a security interest, in farm products that satisfies all of the following requirements:\na.\tThe interest secures payment or performance of an obligation for either of the following:\n1.\tGoods or services furnished in connection with a debtor's farming operation.\n2.\tRent on real property leased by a debtor in connection with the debtor's farming operation.\nb.\tThe interest is created by statute in favor of a person that did either of the following:\n1.\tIn the ordinary course of its business, furnished goods or services to a debtor in connection with the debtor's farming operation.\n2.\tLeased real property to a debtor in connection with the debtor's farming operation.\nc.\tThe interest's effectiveness does not depend on the interest holder's possession of the personal property.\n(5a)\tApplicant. - Defined in G.S. 25-5-102.\n(6)\tAs-extracted collateral. - Either of the following:\na.\tOil, gas, or other minerals that are subject to a security interest that satisfies both of the following:\n1.\tThe security interest is created by a debtor having an interest in the minerals before extraction.\n2.\tThe security interest attaches to the minerals as extracted.\nb.\tAccounts arising out of the sale at the wellhead or minehead of oil, gas, or other minerals in which the debtor had an interest before extraction.\n(6a)\tAssignee. - Except as used in \"assignee for benefit of creditors,\" means a person (i) in whose favor a security interest that secures an obligation is created or provided for under a security agreement, whether or not the obligation is outstanding or (ii) to which an account, chattel paper, payment intangible, or promissory note has been sold. The term includes a person to which a security interest has been transferred by a secured party.\n(6b)\tAssignor. - A person that (i) under a security agreement creates or provides for a security interest that secures an obligation or (ii) sells an account, chattel paper, payment intangible, or promissory note. The term includes a secured party that has transferred a security interest to another person.\n(7)\tRepealed by Session Laws 2025-25, s. 58, effective October 1, 2025.\n(8)\tBank. - An organization that is engaged in the business of banking. The term includes savings banks, savings and loan associations, credit unions, and trust companies.\n(8a)\tBeneficiary. - Defined in G.S. 25-5-102.\n(8b)\tBroker. - Defined in G.S. 25-8-102.\n(9)\tCash proceeds. - Proceeds that are money, checks, deposit accounts, or the like.\n(10)\tCertificate of title. - A certificate of title with respect to which a statute provides for the security interest in question to be indicated on the certificate as a condition or result of the security interest's obtaining priority over the rights of a lien creditor with respect to the collateral. The term includes another record maintained as an alternative to a certificate of title by the governmental unit that issues certificates of title if a statute permits the security interest in question to be indicated on the record as a condition or result of the security interest's obtaining priority over the rights of a lien creditor with respect to the collateral.\n(10a)\tCertificated security. - Defined in G.S. 25-8-102.\n(11)\tChattel paper. - Either of the following:\na.\tA right to payment of a monetary obligation secured by specific goods, if the right to payment and security agreement are evidenced by a record.\nb.\tA right to payment of a monetary obligation owed by a lessee under a lease agreement with respect to specific goods and a monetary obligation owed by the lessee in connection with the transaction giving rise to the lease, if both of the following apply:\n1.\tThe right to payment and lease agreement are evidenced by a record.\n2.\tThe predominant purpose of the transaction giving rise to the lease was to give the lessee the right to possession and use of the goods.\nThe term does not include a right to payment arising out of a charter or other contract involving the use or hire of a vessel or a right to payment arising out of the use of a credit or charge card or information contained on or for use with the card.\n(11a)\tCheck. - Defined in G.S. 25-3-104.\n(11b)\tClearing corporation. - Defined in G.S. 25-8-102.\n(12)\tCollateral. - The property subject to a security interest or agricultural lien. The term includes all of the following:\na.\tProceeds to which a security interest attaches.\nb.\tAccounts, chattel paper, payment intangibles, and promissory notes that have been sold.\nc.\tGoods that are the subject of a consignment.\n(13)\tCommercial tort claim. - A claim arising in tort if either of the following applies:\na.\tThe claimant is an organization.\nb.\tThe claimant is an individual and both of the following apply:\n1.\tThe claim arose in the course of the claimant's business or profession.\n2.\tThe claim does not include damages arising out of personal injury to or the death of an individual.\n(14)\tCommodity account. - An account maintained by a commodity intermediary in which a commodity contract is carried for a commodity customer.\n(15)\tCommodity contract. - A commodity futures contract, an option on a commodity futures contract, a commodity option, or another contract if either of the following applies:\na.\tThe contract or option is traded on or subject to the rules of a board of trade that has been designated as a contract market for the contract or option pursuant to federal commodities law.\nb.\tThe contract or option is traded on a foreign commodity board of trade, exchange, or market, and is carried on the books of a commodity intermediary for a commodity customer.\n(16)\tCommodity customer. - A person for which a commodity intermediary carries a commodity contract on its books.\n(17)\tCommodity intermediary. - A person that satisfies either of the following:\na.\tIs registered as a futures commission merchant under federal commodities law.\nb.\tIn the ordinary course of its business, provides clearance or settlement services for a board of trade that has been designated as a contract market pursuant to federal commodities law.\n(18)\tCommunicate. - Any of the following:\na.\tTo send a written or other tangible record.\nb.\tTo transmit a record by any means agreed upon by the persons sending and receiving the record.\nc.\tIn the case of transmission of a record to or by a filing office, to transmit a record by any means prescribed by filing-office rule.\n(19)\tConsignee. - A merchant to which goods are delivered in a consignment.\n(20)\tConsignment. - A transaction, regardless of its form, in which a person delivers goods to a merchant for the purpose of sale and all of the following apply:\na.\tAll of the following apply to the merchant:\n1.\tThe merchant deals in goods of that kind under a name other than the name of the person making delivery.\n2.\tThe merchant is not an auctioneer.\n3.\tThe merchant is not generally known by its creditors to be substantially engaged in selling the goods of others.\nb.\tWith respect to each delivery, the aggregate value of the goods is one thousand dollars ($1,000) or more at the time of delivery.\nc.\tThe goods are not consumer goods immediately before delivery.\nd.\tThe transaction does not create a security interest that secures an obligation.\n(21)\tConsignor. - A person that delivers goods to a consignee in a consignment.\n(22)\tConsumer debtor. - A debtor in a consumer transaction.\n(23)\tConsumer goods. - Goods that are used or bought for use primarily for personal, family, or household purposes.\n(24)\tConsumer-goods transaction. - A consumer transaction in which both of the following apply:\na.\tAn individual incurs an obligation primarily for personal, family, or household purposes.\nb.\tA security interest in consumer goods secures the obligation.\n(25)\tConsumer obligor. - An obligor who is an individual and who incurred the obligation as part of a transaction entered into primarily for personal, family, or household purposes.\n(26)\tConsumer transaction. - A transaction in which (i) an individual incurs an obligation primarily for personal, family, or household purposes, (ii) a security interest secures the obligation, and (iii) the collateral is held or acquired primarily for personal, family, or household purposes. The term includes consumer-goods transactions.\n(27)\tContinuation statement. - An amendment of a financing statement that does both of the following:\na.\tIdentifies, by its file number, the initial financing statement to which it relates.\nb.\tIndicates that it is a continuation statement for, or that it is filed to continue the effectiveness of, the identified financing statement.\n(27a)\tContract for sale. - Defined in G.S. 25-2-106.\n(27b)\tControl. - Defined in G.S. 25-7-106.\n(27c)\tControllable account. - An account evidenced by a controllable electronic record that provides that the account debtor undertakes to pay the person that has control under G.S. 25-12-105 of the controllable electronic record.\n(27d)\tControllable electronic record. - Defined in G.S. 25-12-102.\n(27e)\tControllable payment intangible. - A payment intangible evidenced by a controllable electronic record that provides that the account debtor undertakes to pay the person that has control under G.S. 25-12-105 of the controllable electronic record.\n(27f)\tCustomer. - Defined in G.S. 25-4-104.\n(28)\tDebtor. - Any of the following:\na.\tA person having an interest, other than a security interest or other lien, in the collateral, whether or not the person is an obligor.\nb.\tA seller of accounts, chattel paper, payment intangibles, or promissory notes.\nc.\tA consignee.\n(29)\tDeposit account. - A demand, time, savings, passbook, or similar account maintained with a bank. The term does not include investment property or accounts evidenced by an instrument.\n(30)\tDocument. - A document of title or a receipt of the type described in G.S. 25-7-201(b).\n(31)\tRepealed by Session Laws 2025-25, s. 58, effective October 1, 2025.\n(31a)\tElectronic money. - Money in an electronic form.\n(32)\tEncumbrance. - A right, other than an ownership interest, in real property. The term includes mortgages and other liens on real property.\n(32a)\tEntitlement holder. - Defined in G.S. 25-8-102.\n(33)\tEquipment. - Goods other than inventory, farm products, or consumer goods.\n(34)\tFarm products. - Any of the following goods, other than standing timber, with respect to which the debtor is engaged in a farming operation:\na.\tCrops grown, growing, or to be grown, including both of the following:\n1.\tCrops produced on trees, vines, and bushes.\n2.\tAquatic goods produced in aquacultural operations.\nb.\tLivestock, born or unborn, including aquatic goods produced in aquacultural operations.\nc.\tSupplies used or produced in a farming operation.\nd.\tProducts of crops or livestock in their unmanufactured states.\n(35)\tFarming operation. - Raising, cultivating, propagating, fattening, grazing, or any other farming, livestock, or aquacultural operation.\n(36)\tFile number. - The number assigned to an initial financing statement pursuant to G.S. 25-9-519(a).\n(37)\tFiling office. - An office designated in G.S. 25-9-501 as the place to file a financing statement.\n(38)\tFiling-office rule. - A rule adopted pursuant to G.S. 25-9-526.\n(38a)\tFinancial asset. - Defined in G.S. 25-8-102.\n(39)\tFinancing statement. - A record or records composed of an initial financing statement and any filed record relating to the initial financing statement.\n(40)\tFixture filing. - The filing of a financing statement covering goods that are or are to become fixtures and satisfying G.S. 25-9-502(a) and (b). The term includes the filing of a financing statement covering goods of a transmitting utility that are or are to become fixtures.\n(41)\tFixtures. - Goods that have become so related to particular real property that an interest in them arises under real property law.\n(42)\tGeneral intangible. - Any personal property, including things in action, other than accounts, chattel paper, commercial tort claims, deposit accounts, documents, goods, instruments, investment property, letter-of-credit rights, letters of credit, money, and oil, gas, or other minerals before extraction. The term includes controllable electronic records, payment intangibles, and software.\n(43)\tRepealed by Session Laws 2006-112, s. 21, effective October 1, 2006.\n(44)\tGoods. - All things that are movable when a security interest attaches. The term includes (i) fixtures, (ii) standing timber that is to be cut and removed under a conveyance or contract for sale, (iii) the unborn young of animals, (iv) crops grown, growing, or to be grown, even if the crops are produced on trees, vines, or bushes, and (v) manufactured homes. The term also includes a computer program embedded in goods and any supporting information provided in connection with a transaction relating to the program if (i) the program is associated with the goods in a manner that it customarily is considered part of the goods, or (ii) by becoming the owner of the goods, a person acquires a right to use the program in connection with the goods. The term does not include a computer program embedded in goods that consist solely of the medium in which the program is embedded. The term also does not include accounts, chattel paper, commercial tort claims, deposit accounts, documents, general intangibles, instruments, investment property, letter-of-credit rights, letters of credit, money, or oil, gas, or other minerals before extraction.\n(45)\tGovernmental unit. - A subdivision, agency, department, county, parish, municipality, or other unit of the government of the United States, a state, or a foreign country. The term includes an organization having a separate corporate existence if the organization (i) is eligible to issue debt on which interest is exempt from income taxation under the laws of the United States or (ii) was created to facilitate the issuance of notes, bonds, other evidences of indebtedness, or payment obligations for borrowed money by, or in conjunction with, installment or lease purchase financings for this State or any county, municipality, or other agency or political subdivision thereof as evidenced by the documents creating the organization.\n(46)\tHealth-care-insurance receivable. - An interest in or claim under a policy of insurance that is a right to payment of a monetary obligation for health-care goods or services provided.\n(46a)\tHolder in due course. - Defined in G.S. 25-3-302.\n(47)\tInstrument. - A negotiable instrument or any other writing that evidences a right to the payment of a monetary obligation, is not itself a security agreement or lease, and is of a type that in the ordinary course of business is transferred by delivery with any necessary indorsement or assignment. The term does not include (i) investment property, (ii) letters of credit, (iii) writings that evidence a right to payment arising out of the use of a credit or charge card or information contained on or for use with the card, or (iv) writings that evidence chattel paper.\n(48)\tInventory. - Goods, other than farm products, that satisfy any of the following descriptions:\na.\tAre leased by a person as lessor.\nb.\tAre held by a person for sale or lease or to be furnished under a contract of service.\nc.\tAre furnished by a person under a contract of service.\nd.\tConsist of raw materials, work in process, or materials used or consumed in a business.\n(49)\tInvestment property. - A security, whether certificated or uncertificated, security entitlement, securities account, commodity contract, or commodity account.\n(49a)\tIssuer. - Defined as follows:\na.\tWith respect to a letter of credit or letter-of-credit right, defined in G.S. 25-5-102.\nb.\tWith respect to a security, defined in G.S. 25-8-201.\nc.\tWith respect to documents of title, defined in G.S. 25-7-102.\n(50)\tJurisdiction of organization. - With respect to a registered organization, the jurisdiction under whose law the organization is formed or organized.\n(50a)\tLease. - Defined in G.S. 25-2A-103.\n(50b)\tLease agreement. - Defined in G.S. 25-2A-103.\n(50c)\tLease contract. - Defined in G.S. 25-2A-103.\n(50d)\tLeasehold interest. - Defined in G.S. 25-2A-103.\n(50e)\tLessee. - Defined in G.S. 25-2A-103.\n(50f)\tLessee in ordinary course of business. - Defined in G.S. 25-2A-103.\n(50g)\tLessor. - Defined in G.S. 25-2A-103.\n(50h)\tLessor's residual interest. - Defined in G.S. 25-2A-103.\n(50i)\tLetter of credit. - Defined in G.S. 25-5-102.\n(51)\tLetter-of-credit right. - A right to payment or performance under a letter of credit, whether or not the beneficiary has demanded or is at the time entitled to demand payment or performance. The term does not include the right of a beneficiary to demand payment or performance under a letter of credit.\n(52)\tLien creditor. - Any of the following:\na.\tA creditor that has acquired a lien on the property involved by attachment, levy, or the like.\nb.\tAn assignee for benefit of creditors from the time of assignment.\nc.\tA trustee in bankruptcy from the date of the filing of the petition.\nd.\tA receiver in equity from the time of appointment.\n(53)\tManufactured home. - A structure, transportable in one or more sections that satisfies all of the following requirements:\na.\tIn the traveling mode, is eight body feet or more in width or 40 body feet or more in length, or, when erected on site, is 320 or more square feet.\nb.\tIs built on a permanent chassis and designed to be used as a dwelling with or without a permanent foundation when connected to the required utilities.\nc.\tIncludes plumbing, heating, air-conditioning, and electrical systems.\nThe term includes any structure that meets all of the requirements of this subdivision except the size requirements and with respect to which the manufacturer voluntarily files a certification required by the United States Secretary of Housing and Urban Development and complies with the standards established under Title 42 of the United States Code.\n(54)\tManufactured-home transaction. - A secured transaction if either of the following applies:\na.\tThe transaction creates a purchase-money security interest in a manufactured home, other than a manufactured home held as inventory.\nb.\tIn which a manufactured home, other than a manufactured home held as inventory, is the primary collateral.\n(54a)\tMerchant. - Defined in G.S. 25-2-104.\n(54b)\tMoney. - Defined in G.S. 25-1-201(b) but does not include (i) a deposit account or (ii) money in an electronic form that cannot be subjected to control under G.S. 25-9-105.1.\n(55)\tMortgage. - A consensual interest in real property, including fixtures, that secures payment or performance of an obligation.\n(55a)\tNegotiable instrument. - Defined in G.S. 25-3-104.\n(56)\tNew debtor. - A person that becomes bound as debtor under G.S. 25-9-203(d) by a security agreement previously entered into by another person.\n(57)\tNew value. - Any of the following:\na.\tMoney.\nb.\tMoney's worth in property, services, or new credit.\nc.\tRelease by a transferee of an interest in property previously transferred to the transferee.\nThe term does not include an obligation substituted for another obligation.\n(57a)\tNominated person. - Defined in G.S. 25-5-102.\n(58)\tNoncash proceeds. - Proceeds other than cash proceeds.\n(58a)\tNote. - Defined in G.S. 25-3-104.\n(59)\tObligor. - A person that, with respect to an obligation secured by a security interest in or an agricultural lien on the collateral, (i) owes payment or other performance of the obligation, (ii) has provided property other than the collateral to secure payment or other performance of the obligation, or (iii) is otherwise accountable in whole or in part for payment or other performance of the obligation. The term does not include issuers or nominated persons under a letter of credit.\n(60)\tOriginal debtor, except as used in G.S. 25-9-310(c). - A person that, as debtor, entered into a security agreement to which a new debtor has become bound under G.S. 25-9-203(d).\n(61)\tPayment intangible. - A general intangible under which the account debtor's principal obligation is a monetary obligation. The term includes a controllable payment intangible.\n(62)\tPerson related to. - Defined as follows:\na.\tWith respect to an individual, any of the following:\n1.\tThe spouse of the individual.\n2.\tA brother, brother-in-law, sister, or sister-in-law of the individual.\n3.\tAn ancestor or lineal descendant of the individual or the individual's spouse.\n4.\tAny other relative, by blood or marriage, of the individual or the individual's spouse who shares the same home with the individual.\nb.\tWith respect to an organization, any of the following:\n1.\tA person directly or indirectly controlling, controlled by, or under common control with the organization.\n2.\tAn officer or director of, or a person performing similar functions with respect to, the organization.\n3.\tAn officer or director of, or a person performing similar functions with respect to, a person described in sub-sub-subdivision 1. of this sub-subdivision.\n4.\tThe spouse of an individual described in sub-sub-subdivision 1., 2., or 3., of this sub-subdivision.\n5.\tAn individual who is related by blood or marriage to an individual described in sub-sub-subdivision 1., 2., 3., or 4. of this sub-subdivision and shares the same home with the individual.\n(63)\tRecodified and amended as sub-subdivision (a)(62)b. by Session Laws 2025-25, s. 58, effective October 1, 2025.\n(64)\tProceeds. - Except as used in G.S. 25-9-609(b), means any of the following property:\na.\tWhatever is acquired upon the sale, lease, license, exchange, or other disposition of collateral.\nb.\tWhatever is collected on, or distributed on account of, collateral.\nc.\tRights arising out of collateral.\nd.\tTo the extent of the value of collateral, claims arising out of the loss, nonconformity, or interference with the use of, defects or infringement of rights in, or damage to, the collateral.\ne.\tTo the extent of the value of collateral and to the extent payable to the debtor or the secured party, insurance payable by reason of the loss or nonconformity of, defects or infringement of rights in, or damage to, the collateral.\n(64a)\tProceeds of a letter of credit. - Defined in G.S. 25-5-114.\n(65)\tProduction-money crops. - Crops that secure a production-money obligation incurred with respect to the production of those crops.\n(66)\tProduction-money obligation. - An obligation of an obligor incurred for new value given to enable the debtor to produce crops if the value is in fact used for the production of the crops.\n(67)\tProduction of crops. - Includes tilling and otherwise preparing land for growing, planting, cultivating, fertilizing, irrigating, harvesting, gathering, and curing crops and protecting them from damage or disease.\n(68)\tPromissory note. - An instrument that evidences a promise to pay a monetary obligation, does not evidence an order to pay, and does not contain an acknowledgment by a bank that the bank has received for deposit a sum of money or funds.\n(69)\tProposal. - A record signed by a secured party that includes the terms on which the secured party is willing to accept collateral in full or partial satisfaction of the obligation it secures pursuant to G.S. 25-9-620, 25-9-621, and 25-9-622.\n(69a)\tProtected purchaser. - Defined in G.S. 25-8-303.\n(69b)\tProve. - Defined in G.S. 25-3-103.\n(70)\tPublic-finance transaction. - A secured transaction to which all of the following apply:\na.\tDebt securities are issued.\nb.\tAll or a portion of the securities issued have an initial stated maturity of at least 20 years.\nc.\tThe debtor, obligor, secured party, account debtor or other person obligated on collateral, assignor or assignee of a secured obligation, or assignor or assignee of a security interest is a state or a governmental unit of a state.\n(70a)\tPublic organic record. - A record that is available to the public for inspection and is any of the following:\na.\tA record consisting of the record initially filed with or issued by a state or the United States to form or organize an organization and any record filed with or issued by the state or the United States that amends or restates the initial record.\nb.\tAn organic record of a business trust consisting of the record initially filed with a state and any record filed with the state that amends or restates the initial record, if a statute of the state governing business trusts requires that the record be filed with the state.\nc.\tA record consisting of legislation enacted by the legislature of a state or the Congress of the United States that forms or organizes an organization, any record amending the legislation, and any record filed with or issued by the state or the United States that amends or restates the name of the organization.\n(71)\tPursuant to commitment. - With respect to an advance made or other value given by a secured party, means pursuant to the secured party's obligation, whether or not a subsequent event of default or other event not within the secured party's control has relieved or may relieve the secured party from its obligation.\n(71a)\tQualifying purchaser. - Defined in G.S. 25-12-102.\n(72)\tRecord. - Except as used in \"for record,\" \"of record,\" \"record or legal title,\" and \"record owner,\" means information that is inscribed on a tangible medium or that is stored in an electronic or other medium and is retrievable in perceivable form.\n(73)\tRegistered organization. - An organization formed or organized solely under the law of a state or the United States by the filing of a public organic record with, the issuance of a public organic record by, or the enactment of legislation by the state or the United States. The term includes a business trust that is formed or organized under the law of a state if a statute of the state governing business trusts requires that the business trust's organic record be filed with the state.\n(73a)\tSale. - Defined in G.S. 25-2-106.\n(74)\tSecondary obligor. - An obligor to the extent that either of the following applies:\na.\tThe obligor's obligation is secondary.\nb.\tThe obligor has a right of recourse with respect to an obligation secured by collateral against the debtor, another obligor, or property of either.\n(75)\tSecured party. - Any of the following:\na.\tA person in whose favor a security interest is created or provided for under a security agreement, whether or not any obligation to be secured is outstanding.\nb.\tA person that holds an agricultural lien.\nc.\tA consignor.\nd.\tA person to which accounts, chattel paper, payment intangibles, or promissory notes have been sold.\ne.\tA trustee, indenture trustee, agent, collateral agent, or other representative in whose favor a security interest or agricultural lien is created or provided for.\nf.\tA person that holds a security interest arising under G.S. 25-2-401, 25-2-505, 25-2-711(c), 25-2A-508(e), 25-4-208, or 25-5-118.\n(75a)\tSecurities account. - Defined in G.S. 25-8-501.\n(75b)\tSecurities intermediary. - Defined in G.S. 25-8-102.\n(75c)\tSecurity. - Defined in G.S. 25-8-102.\n(76)\tSecurity agreement. - An agreement that creates or provides for a security interest.\n(76a)\tSecurity certificate. - Defined in G.S. 25-8-102.\n(76b)\tSecurity entitlement. - Defined in G.S. 25-8-102.\n(77)\tRepealed by Session Laws 2025-25, s. 58, effective October 1, 2025.\n(78)\tSoftware. - 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.\n(79)\tState. - 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.\n(80)\tSupporting obligation. - 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.\n(81)\tRepealed by Session Laws 2025-25, s. 58, effective October 1, 2025.\n(81a)\tTangible money. - Money in a tangible form.\n(82)\tTermination statement. - An amendment of a financing statement that does both of the following:\na.\tIdentifies, by its file number, the initial financing statement to which it relates.\nb.\tIndicates either that it is a termination statement or that the identified financing statement is no longer effective.\n(83)\tTransmitting utility. - A person primarily engaged in the business of any of the following:\na.\tOperating a railroad, subway, street railway, or trolley bus.\nb.\tTransmitting communications electrically, electromagnetically, or by light.\nc.\tTransmitting goods by pipeline or sewer.\nd.\tTransmitting or producing and transmitting electricity, steam, gas, or water.\n(84)\tUncertificated security. - Defined in G.S. 25-8-102.\n(b)\tRepealed by Session Laws 2025-25, s. 58, effective October 1, 2025.\n(c)\tArticle 1 Definitions and Principles. - Article 1 of this Chapter contains general definitions and principles of construction and interpretation applicable throughout this Article. (1965, c. 700, s. 1; 1967, c. 562, s. 1; 1975, c. 862, s. 7; 1989 (Reg. Sess., 1990), c. 1024, s. 8(g); 1997-181, s. 3; 1997-456, s. 4; 1999-73, s. 6; 2000-169, s. 1; 2001-218, s. 1; 2006-112, ss. 21, 44; 2012-70, s. 1; 2025-25, ss. 58, 112.)","path":["Chapter 25. Uniform Commercial Code.","Article 9. Secured Transactions.","Part 1. General Provisions."],"source_url":"https://www.ncleg.gov/EnactedLegislation/Statutes/HTML/BySection/Chapter_25/GS_25-9-102.html","current_through":"S.L. 2026-30","vintage":"","retrieved_at":"2026-08-27T17:58:47Z","sha256":"ddb3d1a7af7364cc61cccc50202fcd21b2894ac5627aa1043b81c92b5bb6fa88","source_id":"us-nc","stale":false,"prev":"us-nc/n.c.-gen.-stat.-25-9-101","next":"us-nc/n.c.-gen.-stat.-25-9-103"},"notice":"GroundRules: Original legal text. Not legal advice."}