Terms Used In Montana Code 30-9A-624

• Collateral: means the property subject to a security interest or agricultural lien. See Montana Code 30-9A-102
• Consumer-goods transaction: means a transaction to the extent that:

  (i)an individual incurs an obligation primarily for personal, family, or household purposes; and

  (ii)a security interest in consumer goods or in consumer goods and software that is used, licensed, or bought for use primarily for personal, family, or household purposes secures the obligation. 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

• Obligor: means a person that, with respect to an obligation secured by a security interest in or an agricultural lien on the collateral:

  (A)owes payment or other performance of the obligation;

  (B)has provided property other than the collateral to secure payment or other performance of the obligation; or

  (C)is otherwise accountable in whole or in part for payment or other performance of the obligation. See Montana Code 30-9A-102

• Secondary obligor: means an obligor to the extent that:

  (i)the obligor's obligation is secondary; or

  (ii)the obligor has a right of recourse with respect to an obligation secured by collateral against the debtor, another obligor, or property of either. See Montana Code 30-9A-102