§ 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(1).
(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.
History of Section.P.L. 2019, ch. 226, § 5; P.L. 2019, ch. 246, § 5.
Structure Rhode Island General Laws
Title 6 - Commercial Law – General Regulatory Provisions
Section 6-56-1. - Short title.
Section 6-56-2. - Definitions.
Section 6-56-4. - Incorporation of Article 8.
Section 6-56-5. - Qualifying office under Hague Securities Convention.
Section 6-56-6. - Effect of failure to comply with this chapter.
Section 6-56-7. - No inference as to characterization under other statute or rule.
Section 6-56-8. - Supplementary law.
Section 6-56-9. - Uniformity of application and construction.
Section 6-56-10. - Relation to Electronic Signatures in Global and National Commerce Act.