Terms Used In Montana Code 30-9A-515

• Agricultural lien: means an interest, other than a security interest, in farm products:

  (i)that secures payment or performance of an obligation for:

  (A)goods or services furnished in connection with a debtor's farming operation; or

  (B)rent on real property leased by a debtor in connection with its farming operation;

  (ii)that is created by statute in favor of a person that:

  (A)in the ordinary course of its business furnished goods or services to a debtor in connection with a debtor's farming operation; or

  (B)leased real property to a debtor in connection with the debtor's farming operation; and

  (iii)whose effectiveness does not depend on the person's possession of the personal property. See Montana Code 30-9A-102

• 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

• 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

• 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
• Fixture filing: means the filing of a financing statement covering goods that are or are to become fixtures and satisfying the requirements of 30-9A-502(1) and (2). See Montana Code 30-9A-102
• Lien: A claim against real or personal property in satisfaction of a debt.
• Manufactured-home transaction: means a secured transaction:

  (i)that creates a purchase-money security interest in a manufactured home, other than a manufactured home held as inventory; or

  (ii)in which a manufactured home, other than a manufactured home held as inventory, is the primary collateral. See Montana Code 30-9A-102

• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• Mortgage: means a consensual interest in real property, including fixtures, that is created by a mortgage, trust deed, or similar transaction. See Montana Code 30-9A-102
• Public-finance transaction: means a secured transaction in connection with which:

  (i)bonds, debentures, certificates of participation, or similar debt securities are issued;

  (ii)all or a portion of the securities issued have an initial stated maturity of at least 20 years; and

  (iii)the debtor, the obligor, the secured party, the account debtor or other person obligated on collateral, the assignor or assignee of a secured obligation, or the assignor or assignee of a security interest is a state or a governmental unit of a state. 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