North Dakota § 41-12-02 - (12-102) Definitions
Full text of North Dakota North Dakota Century Code § 41-12-02 — (12-102) Definitions, with citation guidance and answers to common questions.
§ 41-12-02. (12-102) Definitions
1. In this chapter: a. "Controllable electronic record" means a record stored in an electronic medium that can be subjected to control under section 41-12-05. The term does not include a controllable account, a controllable payment intangible, a deposit account, an electronic copy of a record evidencing chattel paper, an electronic document of title, electronic money, investment property, or a transferable record. b. "Qualifying purchaser" means a purchaser of a controllable electronic record or an interest in a controllable electronic record that obtains control of the controllable electronic record for value, in good faith, and without notice of a claim of a property right in the controllable electronic record. c. "Transferable record" has the meaning provided for that term in: (1) Section 201(a)(1) of the Electronic Signatures in Global and National Commerce Act [Pub. L. 106-229; 114 Stat. 473; 15 U.S.C. Section 7021(a) (1)]; or (2) Subsection 1 of section 9-16-15. d. "Value" has the meaning provided in subsection 1 of section 41-03-29, as if references in that subsection to an "instrument" were references to a controllable account, controllable electronic record, or controllable payment intangible. 2. The definitions in chapter 41-09 of "account debtor", "controllable account", "controllable payment intangible", "chattel paper", "deposit account", "electronic money", and "investment property" apply to this chapter. 3. Chapter 41-01 contains general definitions and principles of construction and interpretation applicable throughout this title.
Source: official North Dakota text · Last verified 2026-08-27
Frequently Asked Questions About North Dakota § 41-12-02
What does North Dakota Century Code § 41-12-02 cover?
Section 41-12-02 ("(12-102) Definitions") is part of the North Dakota Century Code, the codified statutory law of North Dakota. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite North Dakota § 41-12-02?
A common citation format is "North Dakota Century Code § 41-12-02" (North Dakota). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of North Dakota law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the North Dakota official source linked on this page or consult a licensed North Dakota attorney.
How does North Dakota § 41-12-02 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in North Dakota can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in North Dakota.