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LEGISLATURE
OF
THE
STATE
OF
IDAHO
Sixty-eighth
Legislature
Second
Regular
Session
-
2026
IN
THE
HOUSE
OF
REPRESENTATIVES
HOUSE
BILL
NO.
709
BY
BUSINESS
COMMITTEE
AN
ACT
1
RELATING
TO
PROGRAMMABLE
MONEY;
AMENDING
SECTION
28
-
1
-
201,
IDAHO
CODE,
TO
2
REVISE
A
DEFINITION;
AMENDING
SECTION
28
-
9
-
102,
IDAHO
CODE,
TO
REVISE
A
3
DEFINITION
AND
TO
MAKE
A
TECHNICAL
CORRECTION;
AMENDING
TITLE
28,
IDAHO
4
CODE,
BY
THE
ADDITION
OF
A
NEW
CHAPTER
54,
TITLE
28,
IDAHO
CODE,
TO
DE
-
5
FINE
TERMS,
TO
LIMIT
THE
USE
OF
PROGRAMMABLE
MONEY,
TO
PROVIDE
REMEDIES,
6
AND
TO
ESTABLISH
PROVISIONS
REGARDING
CRIMINAL
PENALTIES;
PROVIDING
7
SEVERABILITY;
AND
DECLARING
AN
EMERGENCY
AND
PROVIDING
AN
EFFECTIVE
8
DATE.
9
Be
It
Enacted
by
the
Legislature
of
the
State
of
Idaho:
10
SECTION
1.
That
Section
28
-
1
-
201,
Idaho
Code,
be,
and
the
same
is
hereby
1
1
amended
to
read
as
follows:
12
28
-
1
-
201.
GENERAL
DEFINITIONS.
(a)
Unless
the
context
otherwise
re
-
13
quires,
words
or
phrases
defined
in
this
section,
or
in
the
additional
defi
-
14
nitions
contained
in
other
chapters
of
the
uniform
commercial
code
that
ap
-
15
ply
to
particular
chapters
or
parts
thereof,
have
the
meanings
stated.
16
(b)
Subject
to
definitions
contained
in
other
articles
of
the
uniform
17
commercial
code
that
apply
to
particular
articles
or
parts
thereof:
18
(1)
"Action,"
in
the
sense
of
a
judicial
proceeding,
includes
recoup
-
19
ment,
counterclaim,
set
-
off,
suit
in
equity,
and
any
other
proceeding
20
in
which
rights
are
determined.
21
(2)
"Aggrieved
party"
means
a
party
entitled
to
pursue
a
remedy.
22
(3)
"Agreement,"
as
distinguished
from
"contract,"
means
the
bargain
23
of
the
parties
in
fact,
as
found
in
their
language
or
inferred
from
other
24
circumstances,
including
course
of
performance,
course
of
dealing
or
25
usage
of
trade
as
provided
in
section
28
-
1
-
303,
Idaho
Code.
26
(4)
"Bank"
means
a
person
engaged
in
the
business
of
banking
and
in
-
27
cludes
a
savings
bank,
savings
and
loan
association,
credit
union,
and
28
trust
company.
29
(5)
"Bearer"
means
a
person
in
control
of
a
negotiable
electronic
docu
-
30
ment
of
title
or
a
person
in
possession
of
a
negotiable
instrument,
ne
-
31
gotiable
tangible
document
of
title,
or
certificated
security
that
is
32
payable
to
bearer
or
indorsed
in
blank.
33
(6)
"Bill
of
lading"
means
a
document
of
title
evidencing
the
receipt
34
of
goods
for
shipment
issued
by
a
person
engaged
in
the
business
of
di
-
35
rectly
or
indirectly
transporting
or
forwarding
goods.
The
term
does
36
not
include
a
warehouse
receipt.
37
(7)
"Branch"
includes
a
separately
incorporated
foreign
branch
of
a
38
bank.
39
(8)
"Burden
of
establishing"
a
fact
means
the
burden
of
persuading
the
40
trier
of
fact
that
the
existence
of
the
fact
is
more
probable
than
its
41
nonexistence.
42
2
(9)
"Buyer
in
ordinary
course
of
business"
means
a
person
that
buys
1
goods
in
good
faith,
without
knowledge
that
the
sale
violates
the
rights
2
of
another
person
in
the
goods,
and
in
the
ordinary
course
from
a
per
-
3
son,
other
than
a
pawnbroker,
in
the
business
of
selling
goods
of
that
4
kind.
A
person
buys
goods
in
the
ordinary
course
if
the
sale
to
the
5
person
comports
with
the
usual
or
customary
practices
in
the
kind
of
6
business
in
which
the
seller
is
engaged
or
with
the
seller's
own
usual
7
or
customary
practices.
A
person
that
sells
oil,
gas
or
other
minerals
8
at
the
wellhead
or
minehead
is
a
person
in
the
business
of
selling
goods
9
of
that
kind.
A
buyer
in
ordinary
course
of
business
may
buy
for
cash,
10
by
exchange
of
other
property,
or
on
secured
or
unsecured
credit,
and
1
1
may
acquire
goods
or
documents
of
title
under
a
preexisting
contract
for
12
sale.
Only
a
buyer
that
takes
possession
of
the
goods
or
has
a
right
to
13
recover
the
goods
from
the
seller
under
chapter
2,
title
28,
Idaho
Code,
14
may
be
a
buyer
in
ordinary
course
of
business.
"Buyer
in
ordinary
course
15
of
business"
does
not
include
a
person
that
acquires
goods
in
a
transfer
16
in
bulk
or
as
security
for
or
in
total
or
partial
satisfaction
of
a
money
17
debt.
18
(10)
"Conspicuous,"
with
reference
to
a
term,
means
so
written,
dis
-
19
played,
or
presented
that
a
reasonable
person
against
which
it
is
to
op
-
20
erate
ought
to
have
noticed
it.
Whether
a
term
is
"conspicuous"
or
not
21
is
a
decision
for
the
court.
Conspicuous
terms
include
the
following:
22
(A)
A
heading
in
capitals
equal
to
or
greater
in
size
than
the
sur
-
23
rounding
text,
or
in
contrasting
type,
font,
or
color
to
the
sur
-
24
rounding
text
of
the
same
or
lesser
size;
and
25
(B)
Language
in
the
body
of
a
record
or
display
in
larger
type
than
26
the
surrounding
text,
or
in
contrasting
type,
font,
or
color
to
the
27
surrounding
text
of
the
same
size,
or
set
off
from
the
surrounding
28
text
of
the
same
size
by
symbols
or
other
marks
that
call
attention
29
to
the
language.
30
(11)
"Consumer"
means
an
individual
who
enters
into
a
transaction
pri
-
31
marily
for
personal,
family,
or
household
purposes.
32
(12)
"Contract,"
as
distinguished
from
"agreement,"
means
the
total
le
-
33
gal
obligation
that
results
from
the
parties'
agreement
as
determined
34
by
the
uniform
commercial
code
as
supplemented
by
any
other
applicable
35
laws.
36
(13)
"Creditor"
includes
a
general
creditor,
a
secured
creditor,
a
lien
37
creditor,
and
any
representative
of
creditors,
including
an
assignee
38
for
the
benefit
of
creditors,
a
trustee
in
bankruptcy,
a
receiver
in
eq
-
39
uity,
and
an
executor
or
administrator
of
an
insolvent
debtor's
or
as
-
40
signor's
estate.
41
(14)
"Defendant"
includes
a
person
in
the
position
of
defendant
in
a
42
counterclaim,
cross
-
claim,
or
third
-
party
claim.
43
(15)
"Delivery,"
with
respect
to
an
electronic
document
of
title
means
44
voluntary
transfer
of
control
and
with
respect
to
an
instrument,
a
tan
-
45
gible
document
of
title,
or
chattel
paper,
means
voluntary
transfer
of
46
possession.
47
(16)
"Document
of
title"
means
a
record
(i)
that
in
the
regular
course
48
of
business
or
financing
is
treated
as
adequately
evidencing
that
the
49
person
in
possession
or
control
of
the
record
is
entitled
to
receive,
50
3
control,
hold,
and
dispose
of
the
record
and
the
goods
the
record
cov
-
1
ers
and
(ii)
that
purports
to
be
issued
by
or
addressed
to
a
bailee
and
2
to
cover
goods
in
the
bailee's
possession
which
are
either
identified
or
3
are
fungible
portions
of
an
identified
mass.
The
term
includes
a
bill
of
4
lading,
transport
document,
dock
warrant,
dock
receipt,
warehouse
re
-
5
ceipt,
and
order
for
delivery
of
goods.
An
electronic
document
of
title
6
means
a
document
of
title
evidenced
by
a
record
consisting
of
informa
-
7
tion
stored
in
an
electronic
medium.
A
tangible
document
of
title
means
8
a
document
of
title
evidenced
by
a
record
consisting
of
information
that
9
is
inscribed
on
a
tangible
medium.
10
(17)
"Fault"
means
a
default,
breach,
or
wrongful
act
or
omission.
1
1
(18)
"Fungible
goods"
means:
12
(A)
Goods
of
which
any
unit,
by
nature
or
usage
of
trade,
is
the
13
equivalent
of
any
other
like
unit;
or
14
(B)
Goods
that
by
agreement
are
treated
as
equivalent.
15
(19)
"Genuine"
means
free
of
forgery
or
counterfeiting.
16
(20)
"Good
faith"
means
honesty
in
fact
in
the
conduct
or
transaction
17
concerned.
18
(21)
"Holder"
means:
19
(A)
The
person
in
possession
of
a
negotiable
instrument
that
is
20
payable
either
to
bearer
or
to
an
identified
person
that
is
the
21
person
in
possession;
22
(B)
The
person
in
possession
of
a
negotiable
tangible
document
of
23
title
if
the
goods
are
deliverable
either
to
bearer
or
to
the
order
24
of
the
person
in
possession;
or
25
(C)
The
person
in
control
of
a
negotiable
electronic
document
of
26
title.
27
(22)
"Insolvency
proceeding"
includes
an
assignment
for
the
benefit
of
28
creditors
or
other
proceeding
intended
to
liquidate
or
rehabilitate
the
29
estate
of
the
person
involved.
30
(23)
"Insolvent"
means:
31
(A)
Having
generally
ceased
to
pay
debts
in
the
ordinary
course
of
32
business
other
than
as
a
result
of
bona
fide
dispute;
33
(B)
Being
unable
to
pay
debts
as
they
become
due;
or
34
(C)
Being
insolvent
within
the
meaning
of
federal
bankruptcy
law.
35
(24)
"Money"
means
a
medium
of
exchange
currently
authorized
or
adopted
36
by
a
domestic
or
foreign
government.
The
term
includes
a
monetary
37
unit
of
account
established
by
an
intergovernmental
organization
or
by
38
agreement
between
two
(2)
or
more
countries.
"Money"
does
not
include
39
programmable
money.
40
(25)
"Organization"
means
a
person
other
than
an
individual.
41
(26)
"Party,"
as
distinguished
from
"third
party,"
means
a
person
that
42
has
engaged
in
a
transaction
or
made
an
agreement
subject
to
the
uniform
43
commercial
code.
44
(27)
"Person"
means
an
individual,
corporation,
business
trust,
es
-
45
tate,
trust,
partnership,
limited
liability
company,
association,
46
joint
venture,
government,
governmental
subdivision,
agency,
or
in
-
47
strumentality,
public
corporation,
or
any
other
legal
or
commercial
48
entity.
49
4
(28)
"Present
value"
means
the
amount
as
of
a
date
certain
of
one
(1)
1
or
more
sums
payable
in
the
future,
discounted
to
the
date
certain
by
2
use
of
either
an
interest
rate
specified
by
the
parties
if
that
rate
is
3
not
manifestly
unreasonable
at
the
time
the
transaction
is
entered
into
4
or,
if
an
interest
rate
is
not
so
specified,
a
commercially
reasonable
5
rate
that
takes
into
account
the
facts
and
circumstances
at
the
time
the
6
transaction
is
entered
into.
7
(29)
"Purchase"
means
taking
by
sale,
lease,
discount,
negotiation,
8
mortgage,
pledge,
lien,
security
interest,
issue
or
reissue,
gift,
or
9
any
other
voluntary
transaction
creating
an
interest
in
property.
10
(30)
"Purchaser"
means
a
person
that
takes
by
purchase.
1
1
(31)
"Record"
means
information
that
is
inscribed
on
a
tangible
medium
12
or
that
is
stored
in
an
electronic
or
other
medium
and
is
retrievable
in
13
perceivable
form.
14
(32)
"Remedy"
means
any
remedial
right
to
which
an
aggrieved
party
is
15
entitled
with
or
without
resort
to
a
tribunal.
16
(33)
"Representative"
means
a
person
empowered
to
act
for
another,
17
including
an
agent,
an
officer
of
a
corporation
or
association,
and
a
18
trustee,
executor,
or
administrator
of
an
estate.
19
(34)
"Rights"
includes
remedy.
20
(35)
"Security
interest"
means
an
interest
in
personal
property
or
fix
-
21
tures
which
secures
payment
or
performance
of
an
obligation.
"Security
22
interest"
includes
any
interest
of
a
consignor
and
a
buyer
of
accounts,
23
chattel
paper,
a
payment
intangible,
or
a
promissory
note
in
a
trans
-
24
action
that
is
subject
to
chapter
9,
title
28,
Idaho
Code.
"Security
25
interest"
does
not
include
the
special
property
interest
of
a
buyer
26
of
goods
on
identification
of
those
goods
to
a
contract
for
sale
under
27
section
28
-
2
-
401,
Idaho
Code,
but
a
buyer
may
also
acquire
a
"security
28
interest"
by
complying
with
chapter
9,
title
28,
Idaho
Code.
Except
29
as
otherwise
provided
in
section
28
-
2
-
505,
Idaho
Code,
the
right
of
a
30
seller
or
lessor
of
goods
under
chapter
2
or
chapter
12,
title
28,
Idaho
31
Code,
to
retain
or
acquire
possession
of
the
goods
is
not
a
"security
32
interest,"
but
a
seller
or
lessor
may
also
acquire
a
"security
interest"
33
by
complying
with
chapter
9,
title
28,
Idaho
Code.
The
retention
or
34
reservation
of
title
by
a
seller
of
goods
notwithstanding
shipment
or
35
delivery
to
the
buyer
under
section
28
-
2
-
401,
Idaho
Code,
is
limited
in
36
effect
to
a
reservation
of
a
"security
interest."
Whether
a
transaction
37
in
the
form
of
a
lease
creates
a
"security
interest"
is
determined
pur
-
38
suant
to
section
28
-
1
-
203,
Idaho
Code.
39
(36)
"Send"
in
connection
with
a
writing,
record,
or
notice
means:
40
(A)
To
deposit
in
the
mail
or
deliver
for
transmission
by
any
other
41
usual
means
of
communication
with
postage
or
cost
of
transmission
42
provided
for
and
properly
addressed
and,
in
the
case
of
an
instru
-
43
ment,
to
an
address
specified
thereon
or
otherwise
agreed,
or
if
44
there
be
none
to
any
address
reasonable
under
the
circumstances;
45
or
46
(B)
In
any
other
way
to
cause
to
be
received
any
record
or
notice
47
within
the
time
it
would
have
arrived
if
properly
sent.
48
(37)
"Signed"
includes
using
any
symbol
executed
or
adopted
with
49
present
intention
to
adopt
or
accept
a
writing.
50
5
(38)
"State"
means
a
state
of
the
United
States,
the
District
of
Colum
-
1
bia,
Puerto
Rico,
the
United
States
Virgin
Islands,
or
any
territory
or
2
insular
possession
subject
to
the
jurisdiction
of
the
United
States.
3
(39)
"Surety"
includes
a
guarantor
or
other
secondary
obligor.
4
(40)
"Term"
means
a
portion
of
an
agreement
that
relates
to
a
particular
5
matter.
6
(41)
"Unauthorized
signature"
means
a
signature
made
without
actual,
7
implied,
or
apparent
authority.
The
term
includes
a
forgery.
8
(42)
"Warehouse
receipt"
means
a
document
of
title
issued
by
a
person
9
engaged
in
the
business
of
storing
goods
for
hire.
10
(43)
"Written"
or
"writing"
includes
printing,
typewriting,
or
any
1
1
other
intentional
reduction
to
tangible
form.
12
SECTION
2.
That
Section
28
-
9
-
102,
Idaho
Code,
be,
and
the
same
is
hereby
13
amended
to
read
as
follows:
14
28
-
9
-
102.
DEFINITIONS
AND
INDEX
OF
DEFINITIONS.
(a)
In
this
chapter:
15
(1)
"Accession"
means
goods
that
are
physically
united
with
other
goods
16
in
such
a
manner
that
the
identity
of
the
original
goods
is
not
lost.
17
(2)
"Account,"
except
as
used
in
"account
for,"
means
a
right
to
payment
18
of
a
monetary
obligation,
whether
or
not
earned
by
performance:
(i)
for
19
property
that
has
been
or
is
to
be
sold,
leased,
licensed,
assigned,
or
20
otherwise
disposed
of;
(ii)
for
services
rendered
or
to
be
rendered;
21
(iii)
for
a
policy
of
insurance
issued
or
to
be
issued;
(iv)
for
a
sec
-
22
ondary
obligation
incurred
or
to
be
incurred;
(v)
for
energy
provided
23
or
to
be
provided;
(vi)
for
the
use
or
hire
of
a
vessel
under
a
charter
24
or
other
contract;
(vii)
arising
out
of
the
use
of
a
credit
or
charge
25
card
or
information
contained
on
or
for
use
with
the
card;
or
(viii)
as
26
winnings
in
a
lottery
or
other
game
of
chance
operated
or
sponsored
by
a
27
state,
governmental
unit
of
a
state,
or
a
person
licensed
or
authorized
28
to
operate
the
game
by
a
state
or
governmental
unit
of
a
state.
The
term
29
includes
health
care
insurance
receivables.
The
term
does
not
include:
30
(i)
rights
to
payment
evidenced
by
chattel
paper
or
an
instrument;
(ii)
31
commercial
tort
claims;
(iii)
deposit
accounts;
(iv)
investment
prop
-
32
erty;
(v)
letter
of
credit
rights
or
letters
of
credit;
or
(vi)
rights
to
33
payment
for
money
or
funds
advanced
or
sold,
other
than
rights
arising
34
out
of
the
use
of
a
credit
or
charge
card
or
information
contained
on
or
35
for
use
with
the
card.
36
(3)
"Account
debtor"
means
a
person
obligated
on
an
account,
chat
-
37
tel
paper,
or
general
intangible.
The
term
does
not
include
persons
38
obligated
to
pay
a
negotiable
instrument,
even
if
the
instrument
con
-
39
stitutes
part
of
chattel
paper.
40
(4)
"Accounting,"
except
as
used
in
"accounting
for,"
means
a
record:
41
(A)
authenticated
by
a
secured
party;
42
(B)
indicating
the
aggregate
unpaid
secured
obligations
as
of
a
43
date
not
more
than
thirty
-
five
(35)
days
earlier
or
thirty
-
five
44
(35)
days
later
than
the
date
of
the
record;
and
45
(C)
identifying
the
components
of
the
obligations
in
reasonable
46
detail.
47
(5)
"Agricultural
lien"
means
an
interest,
other
than
a
security
inter
-
48
est,
in
farm
products:
49
6
(A)
which
secures
payment
or
performance
of
an
obligation
for:
1
(i)
goods
or
services
furnished
in
connection
with
a
2
debtor's
farming
operation;
or
3
(ii)
rent
on
real
property
leased
by
a
debtor
in
connection
4
with
its
farming
operation;
5
(B)
which
is
created
by
statute
in
favor
of
a
person
that:
6
(i)
in
the
ordinary
course
of
its
business
furnished
goods
7
or
services
to
a
debtor
in
connection
with
a
debtor's
farming
8
operation;
or
9
(ii)
leased
real
property
to
a
debtor
in
connection
with
the
10
debtor's
farming
operation;
and
1
1
(C)
whose
effectiveness
does
not
depend
on
the
person's
posses
-
12
sion
of
the
personal
property.
13
(6)
"As
-
extracted
collateral"
means:
14
(A)
oil,
gas,
or
other
minerals
that
are
subject
to
a
security
in
-
15
terest
that:
16
(i)
is
created
by
a
debtor
having
an
interest
in
the
miner
-
17
als
before
extraction;
and
18
(ii)
attaches
to
the
minerals
as
extracted;
or
19
(B)
accounts
arising
out
of
the
sale
at
the
wellhead
or
minehead
20
of
oil,
gas,
or
other
minerals
in
which
the
debtor
had
an
interest
21
before
extraction.
22
(7)
"Authenticate"
means:
23
(A)
to
sign;
or
24
(B)
with
the
intent
to
adopt
or
accept
a
record,
to
attach
to
or
25
logically
associate
with
the
record
an
electronic
sound,
symbol
or
26
process.
27
(8)
"Bank"
means
an
organization
that
is
engaged
in
the
business
of
28
banking.
The
term
includes
savings
banks,
savings
and
loan
associa
-
29
tions,
credit
unions
and
trust
companies.
30
(9)
"Cash
proceeds"
means
proceeds
that
are
money,
checks,
deposit
ac
-
31
counts,
or
the
like.
32
(10)
"Certificate
of
title"
means
a
certificate
of
title
with
respect
to
33
which
a
statute
provides
for
the
security
interest
in
question
to
be
in
-
34
dicated
on
the
certificate
as
a
condition
or
result
of
the
security
in
-
35
terest's
obtaining
priority
over
the
rights
of
a
lien
creditor
with
re
-
36
spect
to
the
collateral.
The
term
includes
another
record
maintained
as
37
an
alternative
to
a
certificate
of
title
by
the
governmental
unit
that
38
issues
certificates
of
title
if
a
statute
permits
the
security
interest
39
in
question
to
be
indicated
on
the
record
as
a
condition
or
result
of
the
40
security
interest's
obtaining
priority
over
the
rights
of
a
lien
credi
-
41
tor
with
respect
to
the
collateral.
42
(11)
"Chattel
paper"
means
a
record
or
records
that
evidence
both
a
mon
-
43
etary
obligation
and
a
security
interest
in
specific
goods,
a
security
44
interest
in
specific
goods
and
software
used
in
the
goods,
a
security
45
interest
in
specific
goods
and
license
of
software
used
in
the
goods,
46
a
lease
of
specific
goods,
or
a
lease
of
specific
goods
and
license
of
47
software
used
in
the
goods.
In
this
paragraph,
"monetary
obligation"
48
means
a
monetary
obligation
secured
by
the
goods
or
owed
under
a
lease
49
of
the
goods
and
includes
a
monetary
obligation
with
respect
to
software
50
7
used
in
the
goods.
The
term
does
not
include:
(i)
charters
or
other
con
-
1
tracts
involving
the
use
or
hire
of
a
vessel;
or
(ii)
records
that
evi
-
2
dence
a
right
to
payment
arising
out
of
the
use
of
a
credit
or
charge
card
3
or
information
contained
on
or
for
use
with
the
card.
If
a
transaction
4
is
evidenced
by
records
that
include
an
instrument
or
series
of
instru
-
5
ments,
the
group
of
records
taken
together
constitutes
chattel
paper.
6
(12)
"Collateral"
means
the
property
subject
to
a
security
interest
or
7
agricultural
lien.
The
term
includes:
8
(A)
proceeds
to
which
a
security
interest
attaches;
9
(B)
accounts,
chattel
paper,
payment
intangibles,
and
promissory
10
notes
that
have
been
sold;
and
1
1
(C)
goods
that
are
the
subject
of
a
consignment.
12
(13)
"Commercial
tort
claim"
means
a
claim
arising
in
tort
with
respect
13
to
which:
14
(A)
the
claimant
is
an
organization;
or
15
(B)
the
claimant
is
an
individual
and
the
claim:
16
(i)
arose
in
the
course
of
the
claimant's
business
or
pro
-
17
fession;
and
18
(ii)
does
not
include
damages
arising
out
of
personal
injury
19
to
or
the
death
of
an
individual.
20
(14)
"Commodity
account"
means
an
account
maintained
by
a
commodity
in
-
21
termediary
in
which
a
commodity
contract
is
carried
for
a
commodity
cus
-
22
tomer.
23
(15)
"Commodity
contract"
means
a
commodity
futures
contract,
an
option
24
on
a
commodity
futures
contract,
a
commodity
option,
or
another
con
-
25
tract
if
the
contract
or
option
is:
26
(A)
traded
on
or
subject
to
the
rules
of
a
board
of
trade
that
has
27
been
designated
as
a
contract
market
for
such
a
contract
pursuant
28
to
federal
commodities
laws;
or
29
(B)
traded
on
a
foreign
commodity
board
of
trade,
exchange,
or
30
market,
and
is
carried
on
the
books
of
a
commodity
intermediary
for
31
a
commodity
customer.
32
(16)
"Commodity
customer"
means
a
person
for
which
a
commodity
interme
-
33
diary
carries
a
commodity
contract
on
its
books.
34
(17)
"Commodity
intermediary"
means
a
person
that:
35
(A)
is
registered
as
a
futures
commission
merchant
under
federal
36
commodities
law;
or
37
(B)
in
the
ordinary
course
of
its
business
provides
clearance
or
38
settlement
services
for
a
board
of
trade
that
has
been
designated
39
as
a
contract
market
pursuant
to
federal
commodities
law.
40
(18)
"Communicate"
means:
41
(A)
to
send
a
written
or
other
tangible
record;
42
(B)
to
transmit
a
record
by
any
means
agreed
upon
by
the
persons
43
sending
and
receiving
the
record;
or
44
(C)
in
the
case
of
transmission
of
a
record
to
or
by
a
filing
of
-
45
fice,
to
transmit
a
record
by
any
means
prescribed
by
filing
office
46
rule.
47
(19)
"Consignee"
means
a
merchant
to
which
goods
are
delivered
in
a
con
-
48
signment.
49
8
(20)
"Consignment"
means
a
transaction,
regardless
of
its
form,
in
1
which
a
person
delivers
goods
to
a
merchant
for
the
purpose
of
sale
and:
2
(A)
the
merchant:
3
(i)
deals
in
goods
of
that
kind
under
a
name
other
than
the
4
name
of
the
person
making
delivery;
5
(ii)
is
not
an
auctioneer;
and
6
(iii)
is
not
generally
known
by
its
creditors
to
be
substan
-
7
tially
engaged
in
selling
the
goods
of
others;
8
(B)
with
respect
to
each
delivery,
the
aggregate
value
of
the
9
goods
is
one
thousand
dollars
($1,000)
or
more
at
the
time
of
de
-
10
livery;
1
1
(C)
the
goods
are
not
consumer
goods
immediately
before
delivery;
12
and
13
(D)
the
transaction
does
not
create
a
security
interest
that
se
-
14
cures
an
obligation.
15
(21)
"Consignor"
means
a
person
that
delivers
goods
to
a
consignee
in
a
16
consignment.
17
(22)
"Consumer
debtor"
means
a
debtor
in
a
consumer
transaction.
18
(23)
"Consumer
goods"
means
goods
that
are
used
or
bought
for
use
pri
-
19
marily
for
personal,
family
or
household
purposes.
20
(24)
"Consumer
goods
transaction"
means
a
consumer
transaction
in
21
which:
22
(A)
an
individual
incurs
an
obligation
primarily
for
personal,
23
family
or
household
purposes;
and
24
(B)
a
security
interest
in
consumer
goods
secures
the
obligation.
25
(25)
"Consumer
obligor"
means
an
obligor
who
is
an
individual
and
who
26
incurred
the
obligation
as
part
of
a
transaction
entered
into
primarily
27
for
personal,
family
or
household
purposes.
28
(26)
"Consumer
transaction"
means
a
transaction
in
which:
(i)
an
indi
-
29
vidual
incurs
an
obligation
primarily
for
personal,
family
or
household
30
purposes;
(ii)
a
security
interest
secures
the
obligation;
and
(iii)
31
the
collateral
is
held
or
acquired
primarily
for
personal,
family
or
32
household
purposes.
The
term
includes
consumer
goods
transactions.
33
(27)
"Continuation
statement"
means
an
amendment
of
a
financing
state
-
34
ment
which:
35
(A)
identifies,
by
its
file
number,
the
initial
financing
state
-
36
ment
to
which
it
relates;
and
37
(B)
indicates
that
it
is
a
continuation
statement
for,
or
that
it
38
is
filed
to
continue
the
effectiveness
of,
the
identified
financ
-
39
ing
statement.
40
(28)
"Debtor"
means:
41
(A)
a
person
having
an
interest,
other
than
a
security
interest
42
or
other
lien,
in
the
collateral,
whether
or
not
the
person
is
an
43
obligor;
44
(B)
a
seller
of
accounts,
chattel
paper,
payment
intangibles
or
45
promissory
notes;
or
46
(C)
a
consignee.
47
(29)
"Deposit
account"
means
a
demand,
time,
savings,
passbook,
or
sim
-
48
ilar
account
maintained
with
a
bank.
The
term
does
not
include
invest
-
49
9
ment
property
,
or
accounts
evidenced
by
an
instrument
,
or
programmable
1
money
.
2
(30)
"Document"
means
a
document
of
title
or
a
receipt
of
the
type
de
-
3
scribed
in
section
28
-
7
-
201(b),
Idaho
Code.
4
(31)
"Electronic
chattel
paper"
means
chattel
paper
evidenced
by
a
5
record
or
records
consisting
of
information
stored
in
an
electronic
6
medium.
7
(32)
"Encumbrance"
means
a
right,
other
than
an
ownership
interest,
8
in
real
property.
The
term
includes
mortgages
and
other
liens
on
real
9
property.
10
(33)
"Equipment"
means
goods
other
than
inventory,
farm
products
or
1
1
consumer
goods.
12
(34)
"Farm
products"
means
goods,
other
than
standing
timber,
with
re
-
13
spect
to
which
the
debtor
is
engaged
in
a
farming
operation
and
which
14
are:
15
(A)
crops
grown,
growing,
or
to
be
grown,
including:
16
(i)
crops
produced
on
trees,
vines
and
bushes;
and
17
(ii)
aquatic
goods
produced
in
aquacultural
operations;
18
(B)
livestock,
born
or
unborn,
including
aquatic
goods
produced
19
in
aquacultural
operations;
20
(C)
supplies
used
or
produced
in
a
farming
operation;
or
21
(D)
products
of
crops
or
livestock
in
their
unmanufactured
22
states.
23
(35)
"Farming
operation"
means
raising,
cultivating,
propagating,
fat
-
24
tening,
grazing,
or
any
other
farming,
livestock,
or
aquacultural
oper
-
25
ation.
26
(36)
"File
number"
means
the
number
assigned
to
an
initial
financing
27
statement
pursuant
to
section
28
-
9
-
519(a),
Idaho
Code.
28
(37)
"Filing
office"
means
an
office
designated
in
section
28
-
9
-
501,
29
Idaho
Code,
as
the
place
to
file
a
financing
statement.
30
(38)
"Filing
office
rule"
means
a
rule
adopted
pursuant
to
section
28
-
9
-
31
526,
Idaho
Code.
32
(39)
"Financing
statement"
means
a
record
or
records
composed
of
an
ini
-
33
tial
financing
statement
and
any
filed
record
relating
to
the
initial
34
financing
statement.
35
(40)
"Fixture
filing"
means
the
filing
of
a
financing
statement
cov
-
36
ering
goods
that
are
or
are
to
become
fixtures
and
satisfying
section
37
28
-
9
-
502(a)
and
(b),
Idaho
Code.
The
term
includes
the
filing
of
a
fi
-
38
nancing
statement
covering
goods
of
a
transmitting
utility
which
are
or
39
are
to
become
fixtures.
40
(41)
"Fixtures"
means
goods
that
have
become
so
related
to
particular
41
real
property
that
an
interest
in
them
arises
under
real
property
law.
42
(42)
"General
intangible"
means
any
personal
property,
including
43
things
in
action,
other
than
accounts,
chattel
paper,
commercial
tort
44
claims,
deposit
accounts,
documents,
goods,
instruments,
investment
45
property,
letter
of
credit
rights,
letters
of
credit,
money,
and
oil,
46
gas,
or
other
minerals
before
extraction.
The
term
includes
payment
47
intangibles
and
software.
48
(43)
"Good
faith"
means
honesty
in
fact
and
the
observance
of
reasonable
49
commercial
standards
of
fair
dealing.
50
10
(44)
"Goods"
means
all
things
that
are
movable
when
a
security
inter
-
1
est
attaches.
The
term
includes:
(i)
fixtures;
(ii)
standing
timber
2
that
is
to
be
cut
and
removed
under
a
conveyance
or
contract
for
sale;
3
(iii)
the
unborn
young
of
animals;
(iv)
crops
grown,
growing,
or
to
be
4
grown,
even
if
the
crops
are
produced
on
trees,
vines
or
bushes;
and
(v)
5
manufactured
homes.
The
term
also
includes
a
computer
program
embed
-
6
ded
in
goods
and
any
supporting
information
provided
in
connection
with
7
a
transaction
relating
to
the
program
if:
(i)
the
program
is
associ
-
8
ated
with
the
goods
in
such
a
manner
that
it
customarily
is
considered
9
part
of
the
goods;
or
(ii)
by
becoming
the
owner
of
the
goods,
a
person
10
acquires
a
right
to
use
the
program
in
connection
with
the
goods.
The
1
1
term
does
not
include
a
computer
program
embedded
in
goods
that
consist
12
solely
of
the
medium
in
which
the
program
is
embedded.
The
term
also
13
does
not
include
accounts,
chattel
paper,
commercial
tort
claims,
de
-
14
posit
accounts,
documents,
general
intangibles,
instruments,
invest
-
15
ment
property,
letter
of
credit
rights,
letters
of
credit,
money,
or
16
oil,
gas,
or
other
minerals
before
extraction.
17
(45)
"Governmental
unit"
means
a
subdivision,
agency,
department,
18
county,
parish,
municipality,
or
other
unit
of
the
government
of
the
19
United
States,
a
state,
or
a
foreign
country.
The
term
includes
an
or
-
20
ganization
having
a
separate
corporate
existence
if
the
organization
is
21
eligible
to
issue
debt
on
which
interest
is
exempt
from
income
taxation
22
under
the
laws
of
the
United
States.
23
(46)
"Health
care
insurance
receivable"
means
an
interest
in
or
claim
24
under
a
policy
of
insurance
which
is
a
right
to
payment
of
a
monetary
25
obligation
for
health
care
goods
or
services
provided
or
to
be
provided.
26
(47)
"Instrument"
means
a
negotiable
instrument
or
any
other
writing
27
that
evidences
a
right
to
the
payment
of
a
monetary
obligation,
is
not
28
itself
a
security
agreement
or
lease,
and
is
of
a
type
that
in
the
ordi
-
29
nary
course
of
business
is
transferred
by
delivery
with
any
necessary
30
indorsement
or
assignment.
The
term
does
not
include:
(i)
investment
31
property;
(ii)
letters
of
credit;
or
(iii)
writings
that
evidence
a
32
right
to
payment
arising
out
of
the
use
of
a
credit
or
charge
card
or
33
information
contained
on
or
for
use
with
the
card.
34
(48)
"Inventory"
means
goods,
other
than
farm
products,
which:
35
(A)
are
leased
by
a
person
as
lessor;
36
(B)
are
held
by
a
person
for
sale
or
lease
or
to
be
furnished
under
37
a
contract
of
service;
38
(C)
are
furnished
by
a
person
under
a
contract
of
service;
or
39
(D)
consist
of
raw
materials,
work
in
process,
or
materials
used
40
or
consumed
in
a
business.
41
(49)
"Investment
property"
means
a
security,
whether
certificated
or
42
uncertificated,
security
entitlement,
securities
account,
commodity
43
contract
or
commodity
account.
44
(50)
"Jurisdiction
of
organization,"
with
respect
to
a
registered
or
-
45
ganization,
means
the
jurisdiction
under
whose
law
the
organization
is
46
formed
or
organized.
47
(51)
"Letter
of
credit
right"
means
a
right
to
payment
or
performance
48
under
a
letter
of
credit,
whether
or
not
the
beneficiary
has
demanded
or
49
is
at
the
time
entitled
to
demand
payment
or
performance.
The
term
does
50
11
not
include
the
right
of
a
beneficiary
to
demand
payment
or
performance
1
under
a
letter
of
credit.
2
(52)
"Lien
creditor"
means:
3
(A)
a
creditor
that
has
acquired
a
lien
on
the
property
involved
by
4
attachment,
levy,
or
the
like;
5
(B)
an
assignee
for
benefit
of
creditors
from
the
time
of
assign
-
6
ment;
7
(C)
a
trustee
in
bankruptcy
from
the
date
of
the
filing
of
the
pe
-
8
tition;
or
9
(D)
a
receiver
in
equity
from
the
time
of
appointment.
10
(53)
"Manufactured
home"
means
a
structure,
transportable
in
one
(1)
or
1
1
more
sections,
which,
in
the
traveling
mode,
is
eight
(8)
body
feet
or
12
more
in
width
or
forty
(40)
body
feet
or
more
in
length,
or,
when
erected
13
on
site,
is
three
hundred
twenty
(320)
or
more
square
feet,
and
which
14
is
built
on
a
permanent
chassis
and
designed
to
be
used
as
a
dwelling
15
with
or
without
a
permanent
foundation
when
connected
to
the
required
16
utilities,
and
includes
the
plumbing,
heating,
air
conditioning,
and
17
electrical
systems
contained
therein.
The
term
includes
any
structure
18
that
meets
all
of
the
requirements
of
this
paragraph
except
the
size
re
-
19
quirements
and
with
respect
to
which
the
manufacturer
voluntarily
files
20
a
certification
required
by
the
United
States
secretary
of
housing
and
21
urban
development
and
complies
with
the
standards
established
under
ti
-
22
tle
42
of
the
United
States
Code.
23
(54)
"Manufactured
home
transaction"
means
a
secured
transaction:
24
(A)
that
creates
a
purchase
-
money
security
interest
in
a
manufac
-
25
tured
home,
other
than
a
manufactured
home
held
as
inventory;
or
26
(B)
in
which
a
manufactured
home,
other
than
a
manufactured
home
27
held
as
inventory,
is
the
primary
collateral.
28
(55)
"Mortgage"
means
a
consensual
interest
in
real
property,
including
29
fixtures,
which
secures
payment
or
performance
of
an
obligation.
30
(56)
"New
debtor"
means
a
person
that
becomes
bound
as
debtor
under
sec
-
31
tion
28
-
9
-
203(d),
Idaho
Code,
by
a
security
agreement
previously
en
-
32
tered
into
by
another
person.
33
(57)
"New
value"
means:
(i)
money;
(ii)
money's
worth
in
property,
ser
-
34
vices
or
new
credit;
or
(iii)
release
by
a
transferee
of
an
interest
in
35
property
previously
transferred
to
the
transferee.
The
term
does
not
36
include
an
obligation
substituted
for
another
obligation.
37
(58)
"Noncash
proceeds"
means
proceeds
other
than
cash
proceeds.
38
(59)
"Obligor"
means
a
person
that,
with
respect
to
an
obligation
39
secured
by
a
security
interest
in
or
an
agricultural
lien
on
the
col
-
40
lateral:
(i)
owes
payment
or
other
performance
of
the
obligation;
(ii)
41
has
provided
property
other
than
the
collateral
to
secure
payment
or
42
other
performance
of
the
obligation;
or
(iii)
is
otherwise
accountable
43
in
whole
or
in
part
for
payment
or
other
performance
of
the
obligation.
44
The
term
does
not
include
issuers
or
nominated
persons
under
a
letter
of
45
credit.
46
(60)
"Original
debtor,"
except
as
used
in
section
28
-
9
-
310(c),
Idaho
47
Code,
means
a
person
that,
as
debtor,
entered
into
a
security
agreement
48
to
which
a
new
debtor
has
become
bound
under
section
28
-
9
-
203(d),
Idaho
49
Code.
50
12
(61)
"Payment
intangible"
means
a
general
intangible
under
which
the
1
account
debtor's
principal
obligation
is
a
monetary
obligation.
2
(62)
"Person
related
to,"
with
respect
to
an
individual,
means:
3
(A)
the
spouse
of
the
individual;
4
(B)
a
brother,
brother
-
in
-
law,
sister,
or
sister
-
in
-
law
of
the
5
individual;
6
(C)
an
ancestor
or
lineal
descendant
of
the
individual
or
the
in
-
7
dividual's
spouse;
or
8
(D)
any
other
relative,
by
blood
or
marriage,
of
the
individual
or
9
the
individual's
spouse
who
shares
the
same
home
with
the
individ
-
10
ual.
1
1
(63)
"Person
related
to,"
with
respect
to
an
organization,
means:
12
(A)
a
person
directly
or
indirectly
controlling,
controlled
by,
13
or
under
common
control
with
the
organization;
14
(B)
an
officer
or
director
of,
or
a
person
performing
similar
15
functions
with
respect
to,
the
organization;
16
(C)
an
officer
or
director
of,
or
a
person
performing
similar
17
functions
with
respect
to,
a
person
described
in
subparagraph
(A)
18
of
this
paragraph;
19
(D)
the
spouse
of
an
individual
described
in
subparagraph
(A),
(B)
20
or
(C)
of
this
paragraph;
or
21
(E)
an
individual
who
is
related
by
blood
or
marriage
to
an
indi
-
22
vidual
described
in
subparagraph
(A),
(B),
(C)
or
(D)
of
this
para
-
23
graph
and
shares
the
same
home
with
the
individual.
24
(64)
"Proceeds"
means
the
following
property:
25
(A)
whatever
is
acquired
upon
the
sale,
lease,
license,
exchange
26
or
other
disposition
of
collateral;
27
(B)
whatever
is
collected
on,
or
distributed
on
account
of,
col
-
28
lateral;
29
(C)
rights
arising
out
of
collateral;
30
(D)
to
the
extent
of
the
value
of
collateral,
claims
arising
out
of
31
the
loss,
nonconformity,
or
interference
with
the
use
of,
defects
32
or
infringement
of
rights
in,
or
damage
to,
the
collateral;
or
33
(E)
to
the
extent
of
the
value
of
collateral
and
to
the
extent
34
payable
to
the
debtor
or
the
secured
party,
insurance
payable
by
35
reason
of
the
loss
or
nonconformity
of,
defects
or
infringement
of
36
rights
in,
or
damage
to,
the
collateral.
37
(65)
"Promissory
note"
means
an
instrument
that
evidences
a
promise
to
38
pay
a
monetary
obligation,
does
not
evidence
an
order
to
pay,
and
does
39
not
contain
an
acknowledgment
by
a
bank
that
the
bank
has
received
for
40
deposit
a
sum
of
money
or
funds.
41
(66)
"Proposal"
means
a
record
authenticated
by
a
secured
party
which
42
includes
the
terms
on
which
the
secured
party
is
willing
to
accept
col
-
43
lateral
in
full
or
partial
satisfaction
of
the
obligation
it
secures
44
pursuant
to
sections
28
-
9
-
620,
28
-
9
-
621
and
28
-
9
-
622,
Idaho
Code.
45
(67)
"Public
-
finance
transaction"
means
a
secured
transaction
in
con
-
46
nection
with
which:
47
(A)
debt
securities
are
issued;
48
(B)
all
or
a
portion
of
the
securities
issued
have
an
initial
49
stated
maturity
of
at
least
twenty
(20)
years;
and
50
13
(C)
the
debtor,
obligor,
secured
party,
account
debtor
or
other
1
person
obligated
on
collateral,
assignor
or
assignee
of
a
secured
2
obligation,
or
assignor
or
assignee
of
a
security
interest
is
a
3
state
or
a
governmental
unit
of
a
state.
4
(68)
"Public
organic
record"
means
a
record
that
is
available
to
the
5
public
for
inspection
and
that
is:
6
(A)
a
record
consisting
of
the
record
initially
filed
with
or
is
-
7
sued
by
a
state
or
the
United
States
to
form
or
organize
an
organ
-
8
ization
and
any
record
filed
with
or
issued
by
the
state
or
the
9
United
States
which
amends
or
restates
the
initial
record;
10
(B)
an
organic
record
of
a
business
trust
consisting
of
the
record
1
1
initially
filed
with
a
state
and
any
record
filed
with
the
state
12
which
amends
or
restates
the
initial
record,
if
a
statute
of
the
13
state
governing
business
trusts
requires
that
the
record
be
filed
14
with
the
state;
or
15
(C)
a
record
consisting
of
legislation
enacted
by
the
legislature
16
of
a
state
or
the
congress
of
the
United
States
which
forms
or
or
-
17
ganizes
an
organization,
any
record
amending
the
legislation,
and
18
any
record
filed
with
or
issued
by
the
state
or
United
States
which
19
amends
or
restates
the
name
of
the
organization.
20
(69)
"Pursuant
to
commitment,"
with
respect
to
an
advance
made
or
other
21
value
given
by
a
secured
party,
means
pursuant
to
the
secured
party's
22
obligation,
whether
or
not
a
subsequent
event
of
default
or
other
event
23
not
within
the
secured
party's
control
has
relieved
or
may
relieve
the
24
secured
party
from
its
obligation.
25
(70)
"Record,"
except
as
used
in
"for
record,"
"of
record,"
"record
or
26
legal
title,"
and
"record
owner,"
means
information
that
is
inscribed
27
on
a
tangible
medium
or
which
is
stored
in
an
electronic
or
other
medium
28
and
is
retrievable
in
perceivable
form.
29
(71)
"Registered
organization"
means
an
organization
formed
or
orga
-
30
nized
solely
under
the
law
of
a
single
state
or
the
United
States
by
the
31
filing
of
a
public
organic
record
with,
the
issuance
of
a
public
or
-
32
ganic
record
by,
or
the
enactment
of
legislation
by
the
state
or
United
33
States.
The
term
includes
a
business
trust
that
is
formed
or
organized
34
under
the
law
of
a
single
state
if
a
statute
of
the
state
governing
busi
-
35
ness
trusts
requires
that
the
business
trust's
organic
record
be
filed
36
with
the
state.
37
(72)
"Secondary
obligor"
means
an
obligor
to
the
extent
that:
38
(A)
the
obligor's
obligation
is
secondary;
or
39
(B)
the
obligor
has
a
right
of
recourse
with
respect
to
an
obliga
-
40
tion
secured
by
collateral
against
the
debtor,
another
obligor,
or
41
property
of
either.
42
(73)
"Secured
party"
means:
43
(A)
a
person
in
whose
favor
a
security
interest
is
created
or
pro
-
44
vided
for
under
a
security
agreement,
whether
or
not
any
obliga
-
45
tion
to
be
secured
is
outstanding;
46
(B)
a
person
that
holds
an
agricultural
lien;
47
(C)
a
consignor;
48
(D)
a
person
to
which
accounts,
chattel
paper,
payment
intangi
-
49
bles
or
promissory
notes
have
been
sold;
50
14
(E)
a
trustee,
indenture
trustee,
agent,
collateral
agent,
or
1
other
representative
in
whose
favor
a
security
interest
or
agri
-
2
cultural
lien
is
created
or
provided
for;
or
3
(F)
a
person
that
holds
a
security
interest
arising
under
sec
-
4
tion
28
-
2
-
401,
28
-
2
-
505,
28
-
2
-
711(3),
28
-
4
-
210,
28
-
5
-
120
or
5
28
-
12
-
508(5),
Idaho
Code.
6
(74)
"Security
agreement"
means
an
agreement
that
creates
or
provides
7
for
a
security
interest.
8
(75)
"Send,"
in
connection
with
a
record
or
notification,
means:
9
(A)
to
deposit
in
the
mail,
deliver
for
transmission,
or
trans
-
10
mit
by
any
other
usual
means
of
communication,
with
postage
or
cost
1
1
of
transmission
provided
for,
addressed
to
any
address
reasonable
12
under
the
circumstances;
or
13
(B)
to
cause
the
record
or
notification
to
be
received
within
the
14
time
that
it
would
have
been
received
if
properly
sent
under
sub
-
15
paragraph
(A)
of
this
paragraph.
16
(76)
"Software"
means
a
computer
program
and
any
supporting
information
17
provided
in
connection
with
a
transaction
relating
to
the
program.
The
18
term
does
not
include
a
computer
program
that
is
included
in
the
defini
-
19
tion
of
goods.
20
(77)
"State"
means
a
state
of
the
United
States,
the
District
of
Colum
-
21
bia,
Puerto
Rico,
the
United
States
Virgin
Islands,
or
any
territory
or
22
insular
possession
subject
to
the
jurisdiction
of
the
United
States.
23
(78)
"Supporting
obligation"
means
a
letter
of
credit
right
or
sec
-
24
ondary
obligation
that
supports
the
payment
or
performance
of
an
ac
-
25
count,
chattel
paper,
a
document,
a
general
intangible,
an
instrument
26
or
investment
property.
27
(79)
"Tangible
chattel
paper"
means
chattel
paper
evidenced
by
a
record
28
or
records
consisting
of
information
that
is
inscribed
on
a
tangible
29
medium.
30
(80)
"Termination
statement"
means
an
amendment
of
a
financing
state
-
31
ment
which:
32
(A)
identifies,
by
its
file
number,
the
initial
financing
state
-
33
ment
to
which
it
relates;
and
34
(B)
indicates
either
that
it
is
a
termination
statement
or
that
35
the
identified
financing
statement
is
no
longer
effective.
36
(81)
"Transmitting
utility"
means
a
person
primarily
engaged
in
the
37
business
of:
38
(A)
operating
a
railroad,
subway,
street
railway,
or
trolley
bus;
39
(B)
transmitting
communications
electrically,
electromagneti
-
40
cally
or
by
light;
41
(C)
transmitting
goods
by
pipeline
or
sewer;
or
42
(D)
transmitting
or
producing
and
transmitting
electricity,
43
steam,
gas
or
water.
44
(b)
"Control"
as
provided
in
section
28
-
7
-
106,
Idaho
Code,
and
the
fol
-
45
lowing
definitions
in
other
chapters
apply
to
this
chapter:
46
"Applicant"
47
section
28
-
5
-
102,
Idaho
Code.
"Beneficiary"
48
section
28
-
5
-
102,
Idaho
Code.
"Broker"
49
section
28
-
8
-
102,
Idaho
Code.
15
"Certificated
security"
1
section
28
-
8
-
102,
Idaho
Code.
"Check"
2
section
28
-
3
-
104,
Idaho
Code.
"Clearing
corporation"
3
section
28
-
8
-
102,
Idaho
Code.
"Contract
for
sale"
4
section
28
-
2
-
106,
Idaho
Code.
"Customer"
5
section
28
-
4
-
104,
Idaho
Code.
"Entitlement
holder"
6
section
28
-
8
-
102,
Idaho
Code.
"Financial
asset"
7
section
28
-
8
-
102,
Idaho
Code.
"Holder
in
due
course"
8
section
28
-
3
-
302,
Idaho
Code.
"Issuer"
(with
respect
to
a
letter
of
credit
9
or
letter
of
credit
right)
10
section
28
-
5
-
102,
Idaho
Code.
"Issuer"
(with
respect
to
a
security)
1
1
section
28
-
8
-
201,
Idaho
Code.
"Issuer"
(with
respect
to
documents
12
of
title)
13
section
28
-
7
-
102,
Idaho
Code.
"Lease"
14
section
28
-
12
-
103,
Idaho
Code.
"Lease
agreement"
15
section
28
-
12
-
103,
Idaho
Code.
"Lease
contract"
16
section
28
-
12
-
103,
Idaho
Code.
"Leasehold
interest"
17
section
28
-
12
-
103,
Idaho
Code.
"Lessee"
18
section
28
-
12
-
103,
Idaho
Code.
"Lessee
in
ordinary
course
of
business"
19
section
28
-
12
-
103,
Idaho
Code.
"Lessor"
20
section
28
-
12
-
103,
Idaho
Code.
"Lessor's
residual
interest"
21
section
28
-
12
-
103,
Idaho
Code.
"Letter
of
credit"
22
section
28
-
5
-
102,
Idaho
Code.
"Merchant"
23
section
28
-
2
-
104,
Idaho
Code.
"Negotiable
instrument"
24
section
28
-
3
-
104,
Idaho
Code.
"Nominated
person"
25
section
28
-
5
-
102,
Idaho
Code.
"Note"
26
section
28
-
3
-
104,
Idaho
Code.
"Proceeds
of
a
letter
of
credit"
27
section
28
-
5
-
114,
Idaho
Code.
"Prove"
28
section
28
-
3
-
103,
Idaho
Code.
"Sale"
29
section
28
-
2
-
106,
Idaho
Code.
"Securities
account"
30
section
28
-
8
-
501,
Idaho
Code.
"Securities
intermediary"
31
section
28
-
8
-
102,
Idaho
Code.
"Security"
32
section
28
-
8
-
102,
Idaho
Code.
"Security
certificate"
33
section
28
-
8
-
102,
Idaho
Code.
"Security
entitlement"
34
section
28
-
8
-
102,
Idaho
Code.
"Uncertificated
security"
35
section
28
-
8
-
102,
Idaho
Code.
(c)
Chapter
1,
title
28,
Idaho
Code,
contains
general
definitions
and
36
principles
of
construction
and
interpretation
applicable
throughout
this
37
chapter.
38
SECTION
3.
That
Title
28,
Idaho
Code,
be,
and
the
same
is
hereby
amended
39
by
the
addition
thereto
of
a
NEW
CHAPTER
,
to
be
known
and
designated
as
Chap
-
40
ter
54,
Title
28,
Idaho
Code,
and
to
read
as
follows:
41
16
CHAPTER
54
1
CONSUMER
PAYMENT
RIGHTS
AND
TRANSPARENCY
ACT
2
28
-
5401.
DEFINITIONS.
As
used
in
this
chapter:
3
(1)
"Automation"
means
actions
used
by,
on
behalf
of,
or
in
support
of
4
an
issuer
by
computer
code,
algorithms,
or
artificial
intelligence
for
the
5
issuer,
the
issuer's
products,
or
the
issuer's
affiliates.
6
(2)
"Issuer"
means
any
person
or
entity
that
creates,
controls,
or
dis
-
7
tributes
programmable
money.
8
(3)
"Programmable
money"
means
money
or
currency
that
can
be
encoded
9
with
specific
rules
and
conditions
that
allow
it
to
be
automatically
con
-
10
trolled
and
used
according
to
predefined
parameters,
including:
1
1
(a)
The
capability
to
deny
or
approve
a
specific
transaction;
12
(b)
Allowing
user
-
specific
restrictions
on
location,
time,
use,
and
13
identity
of
the
transaction
or
parties
to
the
transaction;
14
(c)
Expiring
or
diminishing,
instead
of
being
subject
to
ordinary
in
-
15
flation;
or
16
(d)
Being
used
to
implement
a
social
credit
score
system.
17
(4)
"Social
credit
score
system"
means
a
system
to
monitor
the
behavior
18
of
persons
in
order
to
restrict
access
to
financial
services
using
a
rating
19
or
score
based
on
lawful
activities
or
factors,
including
but
not
limited
to:
20
(a)
The
factors
described
in
section
28
-
5402(1)(b),
Idaho
Code;
21
(b)
The
manufacture,
distribution,
sale,
purchase,
or
use
of
firearms,
22
including
firearm
accessories
and
ammunition;
23
(c)
Fossil
fuel
or
agricultural
activities;
24
(d)
Lawful
advocacy
of
the
state
or
federal
government;
25
(e)
Refusal
to
participate
in
or
to
meet
social
governance
standards,
26
environmental
standards,
or
employment
composition
standards,
pro
-
27
vided
the
person
is
in
compliance
with
applicable
state
and
federal
law;
28
and
29
(f)
Participation
in
or
refusal
to
participate
in
social
justice
pro
-
30
grams,
such
as
diversity,
equity,
and
inclusion.
31
28
-
5402.
PROGRAMMABLE
MONEY
-
-
UNLAWFUL
ACTS
AND
PRACTICES.
(1)
It
32
shall
be
a
violation
of
the
provisions
of
this
chapter
for
an
issuer
to:
33
(a)
Require
the
use
of
programmable
money
for
any
transaction
without
34
offering
a
non
-
digital
alternative
free
of
charge;
35
(b)
Deny
a
transaction
based
on
the
following
factors:
36
(i)
Sex,
race,
or
ethnicity;
37
(ii)
Political
opinion,
speech,
religion,
or
affiliations;
38
(iii)
Medical
history,
including
vaccination
status;
39
(iv)
Purchase
and
browsing
history;
40
(v)
Geographical
location;
41
(vi)
A
person's
trade,
profession,
or
business
activity;
42
(vii)
Application
of
a
social
credit
score
system
or
similar
eval
-
43
uation;
or
44
(viii)
Any
other
lawful
activity;
or
45
(c)
Cause
or
allow,
through
an
act
or
omission,
the
denial
of
a
trans
-
46
action
based
on
criteria
listed
in
paragraph
(b)
of
this
subsection,
47
through
direct
action,
automation,
or
programming.
48
17
(2)
If
an
issuer
denies
a
transaction,
a
party
may
request
a
statement
1
of
specific
reason
within
ninety
(90)
days
of
the
denial.
2
(3)
If
a
statement
of
specific
reason
is
requested
pursuant
to
subsec
-
3
tion
(2)
of
this
section,
the
issuer
shall
respond
with
a
statement
of
spe
-
4
cific
reason
within
thirty
(30)
days
of
receiving
the
request.
Such
state
-
5
ment
shall
include:
6
(a)
The
reason
for
the
denial
with
a
detailed
description
and
citation
7
to
the
specific
terms
of
service
that
were
the
basis
for
the
denial;
8
(b)
A
phone
number,
email
address,
and
physical
address
where
the
re
-
9
questing
party
can
further
inquire;
and
10
(c)
A
copy
of
the
terms
of
service.
1
1
28
-
5403.
REMEDIES.
(1)
An
aggrieved
party,
pursuant
to
a
violation
of
12
this
chapter,
may
bring
a
civil
action
for
declaratory
or
injunctive
relief
13
and
may
recover
actual
and
punitive
damages
against
the
violating
party.
14
(2)
In
an
action
pursuant
to
this
chapter,
the
prevailing
party,
upon
15
each
separate
cause
of
action,
shall
recover
reasonable
attorney's
fees.
16
(3)
If
the
court
finds,
by
a
preponderance
of
the
evidence,
that
the
de
-
17
fendant
acted
intentionally
or
knowingly
or
repeatedly
violated
the
provi
-
18
sions
of
this
chapter,
the
court
may
order
revocation
of
the
defendant's
au
-
19
thorization
to
conduct
business
in
Idaho.
20
28
-
5404.
CRIMINAL
PENALTIES.
(1)
An
issuer
who
violates
the
provi
-
21
sions
of
this
chapter
is
guilty
of
a
misdemeanor
and,
upon
conviction,
may
be
22
sentenced
to
pay
a
fine
of
ten
thousand
dollars
($10,000)
per
violation,
to
23
imprisonment
not
exceeding
one
(1)
year,
or
both
such
fine
and
imprisonment.
24
(2)
Pursuant
to
section
28
-
5402(1),
Idaho
Code,
each
denial
or
failed
25
transaction
not
justified
constitutes
a
separate
offense.
26
(3)
Nothing
in
this
section
shall
be
construed
to
prohibit
a
pro
-
27
grammable
money
issuer
the
ability
to
decline
a
transaction
that
constitutes
28
a
criminal
offense
or
payment
for
a
criminal
act.
29
(4)
Nothing
in
this
chapter
shall
be
construed
to
prohibit
the
purchase
30
or
sale
of
cryptocurrency
or
other
assets
by
public
or
private
parties.
31
SECTION
4.
SEVERABILITY.
The
provisions
of
this
act
are
hereby
declared
32
to
be
severable
and
if
any
provision
of
this
act
or
the
application
of
such
33
provision
to
any
person
or
circumstance
is
declared
invalid
for
any
reason,
34
such
declaration
shall
not
affect
the
validity
of
the
remaining
portions
of
35
this
act.
36
SECTION
5.
An
emergency
existing
therefor,
which
emergency
is
hereby
37
declared
to
exist,
this
act
shall
be
in
full
force
and
effect
on
and
after
38
July
1,
2026.
39