Rhode Island General Laws > Chapter 6A-9 – Secured Transactions


Part 1	General Provisions
Part 2	Effectiveness of Security Agreement; Attachment of Security Interest; Rights of Parties to Security Agreement
Part 3	Perfection and Priority
Part 4	Rights of Third Parties
Part 5	Filing
Part 6	Default
Part 7	Transition

Terms Used In Rhode Island General Laws > Chapter 6A-9 - Secured Transactions

Administrator: means the state tax administrator. See Rhode Island General Laws 1-6-1
Advice and consent: Under the Constitution, presidential nominations for executive and judicial posts take effect only when confirmed by the Senate, and international treaties become effective only when the Senate approves them by a two-thirds vote.
Aeronautics: means transportation by aircraft, air instruction, the operation, repair, or maintenance of aircraft, and the design, operation, repair, or maintenance of airports, landing fields, or other air navigation facilities. See Rhode Island General Laws 1-4-2
aeronautics inspector: means an employee of the Rhode Island airport corporation, as defined in the Rhode Island airport corporation personnel job description manual, who is charged by the director to enforce the provisions of this chapter. See Rhode Island General Laws 1-4-2
Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
Air instruction: means the imparting of aeronautical information by any aviation instructor or in any air school or flying club. See Rhode Island General Laws 1-4-2
Air school: means any person engaged in giving, offering to give, or advertising, representing, or holding himself or herself out as giving, with or without compensation or other award, instruction in aeronautics — in flying, in ground subjects, or in both. See Rhode Island General Laws 1-4-2
Aircraft: means any contrivance now known or invented, used, or designed for navigation of, or flight in, the air, except a parachute or other contrivance designed for air navigation but used primarily as safety equipment. See Rhode Island General Laws 1-4-2
Airport: means any area of land or water, or both, designed and set aside for the approach, landing, and taking off of aircraft and utilized or to be utilized in the interest of the public for those purposes. See Rhode Island General Laws 1-3-2
Airport: means any area of land, water, or both, which is used or is made available for the landing and take off of aircraft, and which provides facilities for the shelter, supply, and repair of aircraft and which, as to size, design, surface, marking, equipment, and management meets the minimum requirements established from time to time by the director. See Rhode Island General Laws 1-4-2
Airport corporation: means the Rhode Island airport corporation. See Rhode Island General Laws 1-3-2
Airport hazard: means any electronic transmission device or structure, that, as determined by the federal aviation administration, interferes with radio communication between airport and aircraft approaching or leaving the airport, or any structure or tree or use of land that obstructs the airspace required for the flight of aircraft in landing or taking off at any airport or is otherwise hazardous to the landing or taking off of aircraft. See Rhode Island General Laws 1-3-2
Airport hazard area: means any area of land or water upon which an airport hazard might be established if not prevented as provided in this chapter. See Rhode Island General Laws 1-3-2
Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
Answer: The formal written statement by a defendant responding to a civil complaint and setting forth the grounds for defense.
Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
Appellate: About appeals; an appellate court has the power to review the judgement of another lower court or tribunal.
Appraisal: A determination of property value.
Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
Arrest: Taking physical custody of a person by lawful authority.
Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
Aviation instructor: means any individual engaged in giving, or offering to give, instruction in aeronautics — in flying, in ground subjects, or in both — either with or without compensation or other reward, without advertising his or her occupation, without calling his or her facilities "air school" or any equivalent term, and without employing or using other instructors. See Rhode Island General Laws 1-4-2
Bail: Security given for the release of a criminal defendant or witness from legal custody (usually in the form of money) to secure his/her appearance on the day and time appointed.
Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. ^{Source: OCC}
Bequest: Property gifted by will.
Beverage: means any liquid that either by itself or by mixture with any other liquid or liquids, is, or may become, fit for human consumption as a drink and that contains five-tenths of one per cent (. See Rhode Island General Laws 3-1-1
Buyer: means a person who buys or contracts to buy goods. See Rhode Island General Laws 6A-2-103
Civil aircraft: means any aircraft other than a public aircraft. See Rhode Island General Laws 1-4-2
Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
Continuance: Putting off of a hearing ot trial until a later time.
Contract: A legal written agreement that becomes binding when signed.
Contract for sale: includes both a present sale of goods and a contract to sell goods at a future time. See Rhode Island General Laws 6A-2-106
Conviction: A judgement of guilt against a criminal defendant.
Cooperative extension: means a partnership made up of residents, the Land Grant College (the University of Rhode Island), the state of Rhode Island, the U. See Rhode Island General Laws 2-3-1
Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
Counterclaim: A claim that a defendant makes against a plaintiff.
Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
Decedent: A deceased person.
Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
Department: means the department of business regulation. See Rhode Island General Laws 3-1-1
Department: means the department of environmental management of the state of Rhode Island. See Rhode Island General Laws 2-5-1
Dependent: A person dependent for support upon another.
Deputy director: means the deputy director of the Rhode Island airport corporation. See Rhode Island General Laws 1-4-2
Devise: To gift property by will.
Director: means the director of the department of business regulation. See Rhode Island General Laws 3-1-1
Director: means the executive director of the Rhode Island airport corporation. See Rhode Island General Laws 1-4-2
Director: means the director of environmental management of the state of Rhode Island. See Rhode Island General Laws 2-5-1
Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
District: means the Warwick airport parking district, being the district that runs from a point on Main Avenue in the city of Warwick at the southerly boundary of Rhode Island T. See Rhode Island General Laws 1-6-1
District association: means a county or district organization established to undertake the purposes of cooperative extension and to cooperate with the Land Grant College (the University of Rhode Island), the U. See Rhode Island General Laws 2-3-1
Division of taxation: means the division of taxation of the department of administration. See Rhode Island General Laws 3-1-1
Entitlement: A Federal program or provision of law that requires payments to any person or unit of government that meets the eligibility criteria established by law. Entitlements constitute a binding obligation on the part of the Federal Government, and eligible recipients have legal recourse if the obligation is not fulfilled. Social Security and veterans' compensation and pensions are examples of entitlement programs.
Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. ^{Source: U.S. Courts}
Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
Ex officio: Literally, by virtue of one's office.
Executor: A male person named in a will to carry out the decedent
Extension agents: means a person or persons qualified by training and experience to instruct in the science and art of agriculture, home economics, natural and community resources, and 4-H youth development who devote their time to demonstrations and other forms of educational instruction. See Rhode Island General Laws 2-3-1
Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
Farmer-winery: means any plant or premise where wine is produced, rectified, blended, or fortified from fruits, flowers, herbs, or vegetables. See Rhode Island General Laws 3-1-1
Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
Flying club: means any person (other than an individual) who, neither for profit nor reward, owns, leases, or uses one or more aircraft for the purpose of instruction, pleasure, or both. See Rhode Island General Laws 1-4-2
Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. ^{Source: OCC}
Forgery: The fraudulent signing or alteration of another's name to an instrument such as a deed, mortgage, or check. The intent of the forgery is to deceive or defraud. ^{Source: OCC}
Fraud: Intentional deception resulting in injury to another.
Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
Grantor: The person who establishes a trust and places property into it.
Guarantor: A party who agrees to be responsible for the payment of another party's debts should that party default. ^{Source: OCC}
Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
Import: means at one time, or in one transaction, to take, or cause to be taken, into this state from outside the state any malt beverage in excess of eight (8) gallons or any vinous beverage or any beverage consisting in whole, or in part, of alcohol produced by distillation in excess of three (3) gallons. See Rhode Island General Laws 3-1-1
in writing: include printing, engraving, lithographing, and photo-lithographing, and all other representations of words in letters of the usual form. See Rhode Island General Laws 43-3-16
Indictment: The formal charge issued by a grand jury stating that there is enough evidence that the defendant committed the crime to justify having a trial; it is used primarily for felonies.
Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. ^{Source: OCC}
Interrogatories: Written questions asked by one party of an opposing party, who must answer them in writing under oath; a discovery device in a lawsuit.
Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
Landing field: means any area of land, water, or both, which is used or is made available for the landing and take off of aircraft, which may or may not provide facilities for the shelter, supply, and repair of aircraft, and which, as to size, design, surface, marking, equipment, and management meets the minimum requirements established from time to time by the director. See Rhode Island General Laws 1-4-2
Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). ^{Source: OCC}
Legal tender: coins, dollar bills, or other currency issued by a government as official money. ^{Source: U.S. Mint}
Lien: A claim against real or personal property in satisfaction of a debt.
Lineal descendant: Direct descendant of the same ancestors.
Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
Minority leader: See Floor Leaders
Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
Mortgagee: The person to whom property is mortgaged and who has loaned the money.
Nolo contendere: No contest-has the same effect as a plea of guilty, as far as the criminal sentence is concerned, but may not be considered as an admission of guilt for any other purpose.
Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
Obstruction: means any tangible, inanimate physical object, natural or artificial, protruding above the surface of the ground. See Rhode Island General Laws 1-3-2
Operate: means , with respect to aircraft, to use, cause to use or authorize to use an aircraft, for the purpose of engine start, movement on the ground (taxi), or air navigation including the piloting of aircraft, with or without the right of legal control (as owner, lessee, or otherwise). See Rhode Island General Laws 1-4-2
Operator: means a person who operates or is in actual physical control of an aircraft. See Rhode Island General Laws 1-4-2
Operator: means any person providing transient parking within the district. See Rhode Island General Laws 1-6-1
Owner: means the legal title holder or any person, firm, copartnership, association, or corporation having the lawful possession or control of an aircraft under a written sale agreement. See Rhode Island General Laws 1-4-2
Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
Permit fee: means the fee payable annually by an operator to the tax administrator in an amount equal to ten dollars ($10. See Rhode Island General Laws 1-6-1
Person: means any individual, firm, co-partnership, corporation, company, association, joint stock association, or body politic, and includes any trustee, receiver, assignee or other similar representative. See Rhode Island General Laws 1-3-2
Person: means any individual, or any corporation or other association of individuals. See Rhode Island General Laws 1-4-2
person: may be construed to extend to and include co-partnerships and bodies corporate and politic. See Rhode Island General Laws 43-3-6
Personal property: All property that is not real property.
Plaintiff: The person who files the complaint in a civil lawsuit.
Political subdivision: means any city or town or any other public corporation, authority or district, department, or any combination of two (2) or more, currently empowered to adopt, administer and enforce municipal zoning regulations or to purchase or condemn pursuant to § 1-2-3. See Rhode Island General Laws 1-3-2
Political subdivision: means any city or town or any other public corporation, authority, or district, or any combination of two (2) or more, which is or may be authorized by law to acquire, establish, construct, maintain, improve, and operate airports. See Rhode Island General Laws 1-4-2
Precedent: A court decision in an earlier case with facts and law similar to a dispute currently before a court. Precedent will ordinarily govern the decision of a later similar case, unless a party can show that it was wrongly decided or that it differed in some significant way.
present sale: means a sale which is accomplished by the making of the contract. See Rhode Island General Laws 6A-2-106
Public aircraft: means an aircraft used exclusively in the governmental service. See Rhode Island General Laws 1-4-2
Public law: A public bill or joint resolution that has passed both chambers and been enacted into law. Public laws have general applicability nationwide.
Quorum: The number of legislators that must be present to do business.
Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
Recourse: An arrangement in which a bank retains, in form or in substance, any credit risk directly or indirectly associated with an asset it has sold (in accordance with generally accepted accounting principles) that exceeds a pro rata share of the bank's claim on the asset. If a bank has no claim on an asset it has sold, then the retention of any credit risk is recourse. ^{Source: FDIC}
Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
Rescission: The cancellation of budget authority previously provided by Congress. The Impoundment Control Act of 1974 specifies that the President may propose to Congress that funds be rescinded. If both Houses have not approved a rescission proposal (by passing legislation) within 45 days of continuous session, any funds being withheld must be made available for obligation.
seal: shall be construed to include an impression of the seal made with or without the use of wax or wafer on the paper. See Rhode Island General Laws 43-3-15
Secretary of agriculture: means the secretary of agriculture of the United States. See Rhode Island General Laws 2-5-1
Seller: means a person who sells or contracts to sell goods. See Rhode Island General Laws 6A-2-103
Service of process: The service of writs or summonses to the appropriate party.
Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
Soil conservation and domestic allotment act: means the federal soil conservation and domestic allotment act, 16 U. See Rhode Island General Laws 2-5-1
Statute: A law passed by a legislature.
Structure: means any object constructed or installed by humans, including, but without limitation, buildings, towers, smokestacks, and overhead transmission lines, including the poles or other structures supporting the object. See Rhode Island General Laws 1-3-2
Subpoena: A command to a witness to appear and give testimony.
Subpoena duces tecum: A command to a witness to produce documents.
Summons: Another word for subpoena used by the criminal justice system.
Testator: A male person who leaves a will at death.
Testify: Answer questions in court.
Testimony: Evidence presented orally by witnesses during trials or before grand juries.
Tort: A civil wrong or breach of a duty to another person, as outlined by law. A very common tort is negligent operation of a motor vehicle that results in property damage and personal injury in an automobile accident.
town: may be construed to include city; the words "town council" include city council; the words "town clerk" include city clerk; the words "ward clerk" include clerk of election district; the words "town treasurer" include city treasurer; and the words "town sergeant" include city sergeant. See Rhode Island General Laws 43-3-9
town council: include city council; the words "town clerk" include city clerk; the words "ward clerk" include clerk of election district; the words "town treasurer" include city treasurer; and the words "town sergeant" include city sergeant. See Rhode Island General Laws 43-3-9
Transient parking: means any parking for motor vehicles at a lot, garage, or other parking facility within the district for which a fee is collected by the operator, but excludes:

(i) Parking for which the fee is charged and paid on a monthly or less frequent basis;

(ii) Parking for any employee of the operator of the facility;

(iii) Parking provided by any hotel or motel for registered guests;

(iv) Parking provided by validation or having a validated rate, where the person providing the validation does not maintain a place of business at Rhode Island T. See Rhode Island General Laws 1-6-1
Transient parking receipts: means the gross receipts collected by an operator (excluding the surcharge imposed by this chapter) in consideration of the provision of transient parking. See Rhode Island General Laws 1-6-1
Tree: means any object of natural growth. See Rhode Island General Laws 1-3-2
Trial: A hearing that takes place when the defendant pleads "not guilty" and witnesses are required to come to court to give evidence.
Trustee: A person or institution holding and administering property in trust.
Uniform Commercial Code: A set of statutes enacted by the various states to provide consistency among the states' commercial laws. It includes negotiable instruments, sales, stock transfers, trust and warehouse receipts, and bills of lading. ^{Source: OCC}
United States: include the several states and the territories of the United States. See Rhode Island General Laws 43-3-8
Winegrower: means any person licensed to operate a farmer's winery under § 3-6-1. See Rhode Island General Laws 3-1-1
Wines: means all fermented alcoholic beverages made from fruits, flowers, herbs, or vegetables and containing not more than twenty-four percent (24%) of alcohol by volume at sixty degrees Fahrenheit (60 degrees F), except cider obtained by the alcohol fermentation of the juice of apples and containing not less than five tenths of one percent (. See Rhode Island General Laws 3-1-1