Terms Used In Montana Code 30-9A-317

• 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

• 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
• 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
• General intangible: means any personal property, including things in action, other than accounts, chattel paper, commercial tort claims, deposit accounts, documents, goods, instruments, investment property, letter-of-credit rights, letters of credit, money, and oil, gas, or other minerals before extraction. See Montana Code 30-9A-102
• Goods: means all things that are movable when a security interest attaches. See Montana Code 30-9A-102
• Lien: A claim against real or personal property in satisfaction of a debt.
• Lien creditor: means :

  (i)a creditor that has acquired a lien on the property involved by attachment, levy, or the like;

  (ii)an assignee for benefit of creditors from the time of assignment;

  (iii)a trustee in bankruptcy from the date of the filing of the petition; and

  (iv)a receiver in equity from the time of appointment. 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

• Tangible chattel paper: means chattel paper evidenced by a record or records consisting of information that is inscribed on a tangible medium. See Montana Code 30-9A-102