LD 2245
pg. 31
Page 30 of 493 An Act to Adopt the Model Revised Article 9 Secured Transactions Page 32 of 493
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LR 1087
Item 1

 
(b)__Has provided property other than the collateral to
secure payment or other performance of the obligation; or

 
(c)__Is otherwise accountable in whole or in part for
payment or other performance of the obligation.

 
"Obligor" does not include issuers or nominated persons under a
letter of credit.

 
(60)__"Original debtor" means a person that as debtor entered
into a security agreement to which a new debtor has become bound
under section 9-1203, subsection (4).

 
(61)__"Payment intangible" means a general intangible under
which the account debtor's principal obligation is a monetary
obligation.

 
(62)__"Person related to," with respect to an individual,
means:

 
(a)__The spouse of the individual;

 
(b)__A brother, brother-in-law, sister or sister-in-law of the
individual;

 
(c)__An ancestor or lineal descendant of the individual or
of the individual's spouse; or

 
(d)__Any other relative, by blood or marriage, of the
individual or the individual's spouse who shares the same
home with the individual.

 
(63)__"Person related to," with respect to an organization,
means:

 
(a)__A person directly or indirectly controlling, controlled
by or under common control with the organization;

 
(b)__An officer or director of, or a person performing
similar functions with respect to, the organization;

 
(c)__An officer or director of, or a person performing
similar functions with respect to, a person described in
paragraph (a);

 
(d)__The spouse of an individual described in paragraph (a),
(b) or (c); or


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