Terms Used In Montana Code 30-9A-106

• Commodity account: means an account maintained by a commodity intermediary in which a commodity contract is carried for a commodity customer. See Montana Code 30-9A-102
• Commodity contract: means a commodity futures contract, an option on a commodity futures contract, a commodity option, or another contract if the contract or option is:

  (i)traded on or subject to the rules of a board of trade that has been designated as a contract market for such a contract pursuant to federal commodities laws; or

  (ii)traded on a foreign commodity board of trade, exchange, or market and is carried on the books of a commodity intermediary for a commodity customer. See Montana Code 30-9A-102

• Commodity customer: means a person for which a commodity intermediary carries a commodity contract on its books. See Montana Code 30-9A-102
• Commodity intermediary: means a person that:

  (i)is registered as a futures commission merchant under federal commodities law; or

  (ii)in the ordinary course of its business provides clearance or settlement services for a board of trade that has been designated as a contract market pursuant to federal commodities law. See Montana Code 30-9A-102

• Contract: A legal written agreement that becomes binding when signed.
• Entitlement: A Federal program or provision of law that requires payments to any person or unit of government that meets the eligibility criteria established by law. Entitlements constitute a binding obligation on the part of the Federal Government, and eligible recipients have legal recourse if the obligation is not fulfilled. Social Security and veterans' compensation and pensions are examples of entitlement programs.
• Investment property: means a security, whether certificated or uncertificated, security entitlement, securities account, commodity contract, or commodity account. See Montana Code 30-9A-102
• 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