LD 2245
pg. 26
Page 25 of 493 An Act to Adopt the Model Revised Article 9 Secured Transactions Page 27 of 493
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LR 1087
Item 1

 
(a)__Identifies by its file number the initial financing
statement to which it relates; and

 
(b)__Indicates that it is a continuation statement for, or
that it is filed to continue the effectiveness of, the
identified financing statement.

 
(28)__"Debtor" means:

 
(a)__A person having an interest, other than a security
interest or other lien, in the collateral, whether or not
the person is an obligor;

 
(b)__A seller of accounts, chattel paper, payment
intangibles or promissory notes; or

 
(c)__A consignee.

 
(29)__"Deposit account" means a demand, time, savings,
passbook or similar account maintained with a bank.__"Deposit
account" does not include investment property or accounts
evidenced by an instrument.

 
(30)__"Document" means a document of title or a receipt of the
type described in section 7-201, subsection (2).

 
(31)__"Electronic chattel paper" means chattel paper evidenced
by a record or records consisting of information stored in an
electronic medium.

 
(32)__"Encumbrance" means a right, other than an ownership
interest, in real property.__"Encumbrance" includes mortgages and
other liens on real property.

 
(33)__"Equipment" means goods other than inventory, farm
products or consumer goods.

 
(34)__"Farm products" means goods, other than standing timber,
with respect to which the debtor is engaged in a farming
operation and that are:

 
(a)__Crops grown, growing or to be grown, including:

 
(i)__Crops produced on trees, vines and bushes; and

 
(ii)__Aquatic goods produced in aquacultural
operations;

 
(b)__Livestock, born or unborn, including aquatic goods
produced in aquacultural operations;


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