25:2-21. Definitions: A to H.

   As used in this article:
 
   "Affiliate" means:
 
   a.   A person who directly or indirectly owns, controls, or holds with power to vote, 20% or more of the outstanding voting securities of the debtor, other than a person who holds the securities:
 
   (1)   As a fiduciary or agent without sole discretionary power to vote the securities; or
 
   (2)   Solely to secure a debt, if the person has not in fact exercised the power to vote;
 
   b.   A corporation 20% or more of whose outstanding voting securities are directly or indirectly owned, controlled, or held with power to vote, by the debtor or a person who directly or indirectly owns, controls, or holds with power to vote, 20% or more of the outstanding voting securities of the debtor, other than a person who holds the securities:
 
   (1)   As a fiduciary or agent without sole discretionary power to vote the securities; or
 
   (2)   Solely to secure a debt, if the person has not in fact exercised the power to vote;
 
   c.   A person whose business is operated by the debtor under a lease or other agreement, or a person substantially all of whose assets are controlled by the debtor; or
 
   d.   A person who operates the debtor's business under a lease or other agreement or controls substantially all of the debtor's assets.
 
   "Asset" means property of a debtor, but the term does not include:
 
   a.   Property to the extent it is encumbered by a valid lien;
 
   b.   Property to the extent it is generally exempt under nonbankruptcy law; or
 
   c.   An interest in property held in tenancy by the entireties to the extent it is not subject to process by a creditor holding a claim against only one tenant.
 
   "Claim", except as used in "claim for relief," means a right to payment, whether or not the right is reduced to judgment, liquidated, unliquidated, fixed, contingent, matured, unmatured, disputed, undisputed, legal, equitable, secured, or unsecured.
 
   "Creditor" means a person who has a claim.
 
   "Debt" means liability on a claim.
 
   "Debtor" means a person who is liable on a claim.
 
   "Electronic" means relating to technology having electrical, digital, magnetic, wireless, optical, electromagnetic, or similar capabilities.
 
   amended 2021, c.92, s.2.