Terms Used In Montana Code 30-9A-513

• Account debtor: means a person obligated on an account, chattel paper, or general intangible. See Montana Code 30-9A-102
• Chattel paper: means a record or records that evidence both a monetary obligation and a security interest in specific goods, a security interest in specific goods and software used in the goods, a security interest in specific goods and license of software used in the goods, a lease of specific goods, or a lease of specific goods and license of software used in the goods. See Montana Code 30-9A-102
• Collateral: means the property subject to a security interest or agricultural lien. See Montana Code 30-9A-102
• Consignment: means a transaction, regardless of its form, in which a person delivers goods to a merchant for the purpose of sale and:

  (i)the merchant:

  (A)deals in goods of that kind under a name other than the name of the person making delivery;

  (B)is not an auctioneer; and

  (C)is not generally known by its creditors to be substantially engaged in selling the goods of others;

  (ii)with respect to each delivery, the aggregate value of the goods is $1,000 or more at the time of delivery;

  (iii)the goods are not consumer goods immediately before delivery; and

  (iv)the transaction does not create a security interest that secures an obligation. See Montana Code 30-9A-102

• Consumer goods: means goods that are used or bought for use primarily for personal, family, or household purposes. See Montana Code 30-9A-102
• Debtor: means :

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

  (ii)a seller of accounts, chattel paper, payment intangibles, or promissory notes; or

  (iii)a consignee. See Montana Code 30-9A-102

• Filing office: means an office designated in 30-9A-501 as the place to file a 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
• Goods: means all things that are movable when a security interest attaches. See Montana Code 30-9A-102
• Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
• 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

• 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