Rhode Island § 6-56-2 - Uniform Supplemental Commercial Law for the Uniform Regulation of Virtual-Currency Businesses Act

§ 6-56-2. Definitions.

(a) As used in this chapter:

(1) “Article 8” means Article 8 of the Uniform Commercial Code, as amended, in substantially the form approved by the American Law Institute and the National Conference of Commissioners on Uniform State Laws.

(2) “Control” has the meaning provided in § 19-14.3-1.1(3).

(3) “Hague Securities Convention” means the Convention on the Law Applicable to Certain Rights in Respect of Securities Held with an Intermediary, concluded 5 July, 2006.

(4) “Uniform Commercial Code jurisdiction” means a state that has enacted Article 8.

(5) “Uniform Regulation of Virtual-Currency Businesses Act” means chapter 14.3 of title 19 of the Rhode Island general laws.

(6) “User” means a person for which a licensee has control of virtual currency.

(b) Other definitions applying to this chapter and the sections of the Uniform Regulation of Virtual-Currency Businesses Act in which they appear are as follows:

(1) “Licensee” as set forth in § 19-14.3-1.1.

(2) “Record” as set forth in § 19-14.3-1.1.

(3) “Resident” as set forth in § 19-14.3-1.1.

(4) “Sign” as set forth in § 19-14.3-1.1.

(5) “State” as set forth in § 19-14.3-1.1.

(6) “Virtual currency” as set forth in § 19-14-1.

(c) Other definitions applying to this chapter and the sections of Article 8 in which they appear are as follows:

(1) “Entitlement holder” as set forth in § 8-102(a).

(2) “Financial asset” as set forth in § 8-102(a).

(3) “Securities intermediary” as set forth in § 8-102(a).

(4) “Security” as set forth in § 8-102(a).

(5) “Securities account” as set forth in § 8-501.

(d) The definition of “agreement” applying to this chapter appears in § 1-201(b)(3) of Article 1 of the Uniform Commercial Code, as amended, in substantially the form approved by the American Law Institute and the National Conference of Commissioners on Uniform State Laws.