Terms Used In Arizona Laws > Title 47 > Chapter 9 > Article 8 - 2014 Transition

• Action: includes any matter or proceeding in a court, civil or criminal. See Arizona Laws 1-215
• 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.
• Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
• Collateral: means the property subject to a security interest or agricultural lien. 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

• 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.
• 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
• 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.
• Month: means a calendar month unless otherwise expressed. See Arizona Laws 1-215
• Person: includes a corporation, company, partnership, firm, association or society, as well as a natural person. See Arizona Laws 1-215
• Property: includes both real and personal property. See Arizona Laws 1-215
• 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

• 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
• 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

• 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

• Trustee: A person or institution holding and administering property in trust.