Terms Used In Arizona Laws > Title 47 > Chapter 9 > Article 5 - Filing

• Account debtor: means a person obligated on an account, chattel paper or general intangible but does not include persons obligated to pay a negotiable instrument, even if the instrument constitutes part of chattel paper. See Arizona Laws 47-9102
• Action: includes any matter or proceeding in a court, civil or criminal. See Arizona Laws 1-215
• Agricultural lien: means an interest, other than a security interest, in farm products:

  (a) That secures payment or performance of an obligation for:

  (i) Goods or services furnished in connection with a debtor's farming operation; or

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

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

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

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

  (c) Whose effectiveness does not depend on the person's possession of the personal property. See Arizona Laws 47-9102

• 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.
• As-extracted collateral: means :

  (a) Oil, gas or other minerals that are subject to a security interest that:

  (i) Is created by a debtor having an interest in the minerals before extraction; and

  (ii) Attaches to the minerals as extracted; or

  (b) Accounts arising out of the sale at the wellhead or minehead of oil, gas or other minerals in which the debtor had an interest before extraction. See Arizona Laws 47-9102

• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• 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 Arizona Laws 47-9102
• Collateral: means the property subject to a security interest or agricultural lien. See Arizona Laws 47-9102
• Communicate: means :

  (a) To send a written or other tangible record;

  (b) To transmit a record by any means agreed on by the persons sending and receiving the record; or

  (c) In the case of transmission of a record to or by a filing office, to transmit a record by any means prescribed by filing office rule. See Arizona Laws 47-9102

• Consignment: means a transaction, regardless of its form, in which a person delivers goods to a merchant for the purpose of sale and:

  (a) The merchant:

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

  (ii) Is not an auctioneer; and

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

  (b) With respect to each delivery, the aggregate value of the goods is one thousand dollars or more at the time of delivery;

  (c) The goods are not consumer goods immediately before delivery; and

  (d) The transaction does not create a security interest that secures an obligation. See Arizona Laws 47-9102

• Consignor: means a person that delivers goods to a consignee in a consignment. See Arizona Laws 47-9102
• Consumer goods: means goods that are used or bought for use primarily for personal, family or household purposes. See Arizona Laws 47-9102
• Consumer obligor: means an obligor who is an individual and who incurred the obligation as part of a transaction entered into primarily for personal, family or household purposes. See Arizona Laws 47-9102
• Continuation statement: means an amendment of a financing statement that:

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

  (b) Indicates that it is a continuation statement for, or that it is filed to continue the effectiveness of, the identified financing statement. See Arizona Laws 47-9102

• Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
• Debtor: means :

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

  (b) A seller of accounts, chattel paper, payment intangibles or promissory notes; or

  (c) A consignee. See Arizona Laws 47-9102

• Decedent: A deceased person.
• Document: means a document of title or a receipt of the type described in section 47-7201, subsection B. See Arizona Laws 47-9102
• Equipment: means goods other than inventory, farm products or consumer goods. See Arizona Laws 47-9102
• Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. ^{Source: U.S. Courts}
• File number: means the number assigned to an initial financing statement pursuant to section 47-9519, subsection A. See Arizona Laws 47-9102
• Filing office: means an office designated in section 47-9501 as the place to file a financing statement. See Arizona Laws 47-9102
• Filing office rule: means a rule adopted pursuant to section 47-9526. See Arizona Laws 47-9102
• Financing statement: means a record or records composed of an initial financing statement and any filed record relating to the initial financing statement. See Arizona Laws 47-9102
• Fixture filing: means the filing of a financing statement covering goods that are or are to become fixtures and satisfying section 47-9502, subsections A and B. See Arizona Laws 47-9102
• Fixtures: means goods that have become so related to particular real property that an interest in them arises under real property law. See Arizona Laws 47-9102
• Goods: means all things that are movable when a security interest attaches. See Arizona Laws 47-9102
• including: means not limited to and is not a term of exclusion. See Arizona Laws 1-215
• 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.
• Manufactured home: means a structure that is transportable in one or more sections and that, in the traveling mode, is eight body feet or more in width or forty body feet or more in length, or, when erected on site, is three hundred twenty or more square feet, and that is built on a permanent chassis and designed to be used as a dwelling with or without a permanent foundation when connected to the required utilities, and includes the plumbing, heating, air conditioning and electrical systems contained therein. See Arizona Laws 47-9102
• Manufactured home transaction: means a secured transaction:

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

  (b) In which a manufactured home, other than a manufactured home held as inventory, is the primary collateral. See Arizona Laws 47-9102

• Minor: means a person under eighteen years of age. See Arizona Laws 1-215
• Month: means a calendar month unless otherwise expressed. See Arizona Laws 1-215
• 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 secures payment or performance of an obligation. See Arizona Laws 47-9102
• Mortgagee: The person to whom property is mortgaged and who has loaned the money.
• New debtor: means a person that becomes bound as debtor under section 47-9203, subsection D by a security agreement previously entered into by another person. See Arizona Laws 47-9102
• 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.
• Obligor: means a person that, with respect to an obligation secured by a security interest in or an agricultural lien on the collateral, owes payment or other performance of the obligation, has provided property other than the collateral to secure payment or other performance of the obligation or is otherwise accountable in whole or in part for payment or other performance of the obligation. See Arizona Laws 47-9102
• Payment intangible: means a general intangible under which the account debtor's principal obligation is a monetary obligation. See Arizona Laws 47-9102
• Person: includes a corporation, company, partnership, firm, association or society, as well as a natural person. See Arizona Laws 1-215
• Promissory note: means an instrument that evidences a promise to pay a monetary obligation, does not evidence an order to pay and does not contain an acknowledgment by a bank that the bank has received for deposit a sum of money or funds. See Arizona Laws 47-9102
• Property: includes both real and personal property. See Arizona Laws 1-215
• Prosecute: To charge someone with a crime. A prosecutor tries a criminal case on behalf of the government.
• Public organic record: means a record that is available to the public for inspection and that is:

  (a) A record consisting of the record initially filed with or issued by a state or the United States to form or organize an organization and any record filed with or issued by the state or the United States that amends or restates the initial record;

  (b) An organic record of a business trust consisting of the record initially filed with a state and any record filed with the state that amends or restates the initial record, if a statute of the state governing business trusts requires that the record be filed with the state; or

  (c) A record consisting of legislation enacted by the legislature of a state or the Congress of the United States that forms or organizes an organization, any record amending the legislation and any record filed with or issued by the state or the United States that amends or restates the name of the organization. See Arizona Laws 47-9102

• Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
• record owner: means information that is inscribed on a tangible medium or that is stored in an electronic or other medium and is retrievable in perceivable form. See Arizona Laws 47-9102
• Registered organization: means an organization formed or organized solely under the law of a single state or the United States by the filing of a public organic record with, the issuance of a public organic record by or the enactment of legislation by the state or the United States. See Arizona Laws 47-9102
• Secured party: means :

  (a) 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;

  (b) A person that holds an agricultural lien;

  (c) A consignor;

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

  (e) 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

  (f) A person that holds a security interest arising under section 47-2401, 47-2505, 47-2711, 47-2A508, 47-4210 or 47-5118. See Arizona Laws 47-9102

• Security agreement: means an agreement that creates or provides for a security interest. See Arizona Laws 47-9102
• 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 Arizona Laws 47-9102
• Statute: A law passed by a legislature.
• Termination statement: means an amendment of a financing statement that:

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

  (b) Indicates either that it is a termination statement or that the identified financing statement is no longer effective. See Arizona Laws 47-9102

• Testator: A male person who leaves a will at death.
• Transmitting utility: means a person primarily engaged in the business of:

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

  (b) Transmitting communications electrically, electromagnetically or by light;

  (c) Transmitting goods by pipeline or sewer; or

  (d) Transmitting or producing and transmitting electricity, steam, gas or water. See Arizona Laws 47-9102

• Uniform Commercial Code: A set of statutes enacted by the various states to provide consistency among the states' commercial laws. It includes negotiable instruments, sales, stock transfers, trust and warehouse receipts, and bills of lading. ^{Source: OCC}
• Wilfully: means , with respect to conduct or to a circumstance described by a statute defining an offense, that a person is aware or believes that the person's conduct is of that nature or that the circumstance exists. See Arizona Laws 1-215
• Writing: includes printing. See Arizona Laws 1-215