§ 28:12–201. Definitions.

(a) In this part, the term:

(1) "Adjustment date" means July 1, 2025, or the date that is one year after April 20, 2024, whichever is later.

(2) "Article 12 property" means a controllable account, controllable electronic record, or controllable payment intangible.

(3) "2024 Act" means the Uniform Commercial Code Amendment Act of 2024, passed on 2nd reading on February 6, 2024 (Enrolled version of B25-5).

(b) The following definitions in other articles of this subtitle apply to this part.

(1) "Controllable account" § 28:9-102.

(2) "Controllable electronic record" § 28:12-102.

(3) "Controllable payment intangible" § 28:9-102.

(4) "Electronic money" § 28:9-102.

(5) "Financing statement" § 28:9-102.