Terms Used In Montana Code > Title 30 > Chapter 9A > Part 7 - Transition

• Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
• Collateral: means the property subject to a security interest or agricultural lien. See Montana Code 30-9A-102
• Continuation statement: means an amendment of a financing statement that:

  (i)identifies, by its file number, the initial financing statement to which it relates; and

  (ii)indicates that it is a continuation statement for, or that it is filed to continue the effectiveness of, the identified financing statement. See Montana Code 30-9A-102

• Financing statement: means a record or records composed of an initial financing statement and any filed record relating to the initial financing statement. See Montana Code 30-9A-102
• Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
• Lien: A claim against real or personal property in satisfaction of a debt.
• Person: includes a corporation or other entity as well as a natural person. See Montana Code 1-1-201
• Secured party: means :

  (i)a person in whose favor a security interest is created or provided for under a security agreement, whether or not any obligation to be secured is outstanding;

  (ii)a person that holds an agricultural lien;

  (iii)a consignor;

  (iv)a person to which accounts, chattel paper, payment intangibles, or promissory notes have been sold;

  (v)a trustee, indenture trustee, agent, collateral agent, or other representative in whose favor a security interest or agricultural lien is created or provided for; or

  (vi)a person that holds a security interest arising under 30-2-401, 30-2-505, 30-2-711(3), 30-2A-508(5), 30-4-208, or 30-5-118. See Montana Code 30-9A-102

• State: means a state of the United States, the District of Columbia, Puerto Rico, the United States Virgin Islands, or any territory or insular possession subject to the jurisdiction of the United States. See Montana Code 30-9A-102
• Termination statement: means an amendment of a financing statement that:

  (i)identifies, by its file number, the initial financing statement to which it relates; and

  (ii)indicates either that it is a termination statement or that the identified financing statement is no longer effective. See Montana Code 30-9A-102

• Transmitting utility: means a person primarily engaged in the business of:

  (i)operating a railroad, subway, street railway, or trolley bus;

  (ii)transmitting electric or electronic communications;

  (iii)transmitting goods by pipeline or sewer; or

  (iv)transmitting or producing and transmitting electricity, steam, gas, or water. See Montana Code 30-9A-102