LD 2245
pg. 21
Page 20 of 493 An Act to Adopt the Model Revised Article 9 Secured Transactions Page 22 of 493
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LR 1087
Item 1

 
(2)__"Account," except as used in "account for," means a right
to payment of a monetary obligation, whether or not earned by
performance:

 
(a)__For property that has been or is to be sold, leased,
licensed, assigned or otherwise disposed of;

 
(b)__For services rendered or to be rendered;

 
(c)__For a policy of insurance issued or to be issued;

 
(d)__For a secondary obligation incurred or to be incurred;

 
(e)__For energy provided or to be provided;

 
(f)__For the use or hire of a vessel under a charter or
other contract;

 
(g)__Arising out of the use of a credit or charge card or
information contained on or for use with the card; or

 
(h)__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.

 
"Account" includes health-care-insurance receivables.__"Account"
does not include: rights to payment evidenced by chattel paper or
an instrument; commercial tort claims; deposit accounts;
investment property; letter-of-credit rights or letters of
credit; or 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.

 
(3)__"Account debtor" means a person obligated on an account,
chattel paper or general intangible.__"Account debtor" does not
include persons obligated to pay a negotiable instrument, even if
the instrument constitutes part of chattel paper.

 
(4) "Accounting," except as used in "accounting for," means a
record:

 
(a)__Authenticated by a secured party;

 
(b)__Indicating 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; and


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