§490:9-105 Definitions and index of definitions. (1) In this Article unless the context otherwise requires:

"Account debtor" means the person who is obligated on an account, chattel paper, or general intangible.

"Chattel paper" means a writing or writings which evidence both a monetary obligation and a security interest in or a lease of specific goods, but a charter or other contract involving the use or a hire of a vessel is not chattel paper. When a transaction is evidenced both by such a security agreement or a lease and by an instrument or a series of instruments, the group of writings taken together constitutes chattel paper.

"Collateral" means the property subject to a security interest, and includes accounts and chattel paper which have been sold.

"Debtor" means the person who owes payment or other performance of the obligation secured, whether or not the person owns or has rights in the collateral, and includes the seller of accounts or chattel paper. Where the debtor and the owner of the collateral are not the same person, the term "debtor" means the owner of the collateral in any provision of the Article dealing with the collateral, the obligor in any provision dealing with the obligation, and may include both where the context so requires.

"Deposit account" means a demand, time, savings, passbook, or like account maintained with a bank, savings and loan association, credit union, or like organization, other than an account evidenced by a negotiable certificate of deposit.

"Document" means document of title as defined in the general definitions of Article 1 (section 490:1-201), and a receipt of the kind described in subsection (2) of section 490:7-201.

"Encumbrance" includes real estate mortgages and other liens on real estate and all other rights in real estate that are not ownership interests.

"Filing" means recording.

"Goods" includes all things which are movable at the time the security interest attaches or which are fixtures (section 490:9-313), but does not include money, documents, instruments, investment property, accounts, chattel paper, general intangibles, or minerals, or the like (including oil and gas) before extraction. "Goods" also includes standing timber which is to be cut and removed under a conveyance or contract for sale, the unborn young of animals, and growing crops.

"Instrument" means a negotiable instrument (defined in section 490:3-104), or any other writing which evidences a right to the payment of money and is not itself a security agreement or lease and is of a type which is in ordinary course of business transferred by delivery with any necessary indorsement or assignment. The term does not include investment property.

"Mortgage" means a consensual interest created by a real estate mortgage, a trust deed on real estate, or the like.

An advance is made "pursuant to commitment" if the secured party has bound the party's self to make it, whether or not a subsequent event not within the party's control has relieved or may relieve the party from the party's obligation.

"Security agreement" means an agreement which creates or provides for a security interest.

"Secured party" means a lender, seller, or other person in whose favor there is a security interest, including a person to whom accounts or chattel paper have been sold. When the holders of obligations issued under an indenture of trust, equipment trust agreement, or the like are represented by a trustee or other person, the representative is the secured party.

"Transmitting utility" means any person primarily engaged in the railroad, street railway, or trolley bus business, the electric or electronics communications transmission business, the transmission of goods by pipeline, or the transmission or the production and transmission of electricity, steam, gas, or water, or the provision of sewer service.

(2) Other definitions applying to this Article and the sections in which they appear are:

"Account". Section 490:9-106.

"Attach". Section 490:9-203.

"Commodity contract". Section 490:9-115.

"Commodity customer". Section 490:9-115.

"Commodity intermediary". Section 490:9-115.

"Construction mortgage". Section 490:9-313(1)(c).

"Consumer goods". Section 490:9-109(1).

"Control". Section 490:9-115.

"Equipment". Section 490:9-109(2).

"Farm products". Section 490:9-109(3).

"Fixture". Section 490:9-313.

"Fixture filing". Section 490:9-313.

"General intangibles". Section 490:9-106.

"Inventory". Section 490:9-109(4).

"Investment property". Section 490:9-115.

"Lien creditor". Section 490:9-301(3).

"Proceeds". Section 490:9-306(1).

"Purchase money security interest". Section 490:9-107.

"United States". Section 490:9-103.

"Broker". Section 490:8-102.

"Certificated security". Section 490:8-102.

"Check". Section 490:3-104.

"Clearing corporation". Section 490:8-102.

"Contract for sale". Section 490:2-106.

"Control". Section 490:8-106.

"Delivery". Section 490:8-301.

"Entitlement holder". Section 490:8-102.

"Financial asset". Section 490:8-102.

"Holder in due course". Section 490:3-302.

"Letter of credit". Section 490:5-102.

"Note". Section 490:3-104.

"Proceeds of a letter of credit". Section 490:5-114(a).

"Sale". Section 490:2-106.

"Securities intermediary". Section 490:8-102.

"Security". Section 490:8-102.

"Security certificate". Section 490:8-102.

"Security entitlement". Section 490:8-102.

"Uncertificated security". Section 490:8-102.

(4) In addition Article 1 contains general definitions and principles of construction and interpretation applicable throughout this Article. [L 1965, c 208, §9-105; am L 1966, c 18, §2(a); HRS §490:9-105; am L 1978, c 155, §1(a); am L 1986, c 341, §4(2); am L 1996, c 39, §6; am L 1997, c 33, §8]