LD 2245
pg. 25
Page 24 of 493 An Act to Adopt the Model Revised Article 9 Secured Transactions Page 26 of 493
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LR 1087
Item 1

 
(iii)__Is not generally known by its creditors to be
substantially engaged in selling the goods of others;

 
(b)__With respect to each delivery, the aggregate value of
the goods is $1,000 or more at the time of delivery;

 
(c)__The goods are not consumer goods immediately before
delivery; and

 
(d)__The transaction does not create a security interest
that secures an obligation.

 
(21)__"Consignor" means a person that delivers goods to a
consignee in a consignment.

 
(22)__"Consumer debtor" means a debtor in a consumer
transaction.

 
(23)__"Consumer goods" means goods that are used or bought for
use primarily for personal, family or household purposes.

 
(24)__"Consumer-goods transaction" means a consumer
transaction in which:

 
(a)__An individual incurs an obligation primarily for
personal, family or household purposes; and

 
(b)__A security interest in consumer goods secures the
obligation.

 
(25)__"Consumer obligor" means an obligor who is an individual
who incurred the obligation as part of a transaction entered into
primarily for personal, family or household purposes.

 
(26)__"Consumer transaction" means a transaction in which:

 
(a)__An individual incurs an obligation primarily for
personal, family or household purposes;

 
(b)__A security interest secures the obligation; and

 
(c)__The collateral is held or acquired primarily for
personal, family or household purposes.

 
"Consumer transaction" includes consumer-goods transactions.

 
(27)__"Continuation statement" means an amendment of a
financing statement that:


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