Vermont H 206: An act relating to miscellaneous changes affecting the duties of the Department of Vermont Health Access

Bill Text

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VT LEG #383691 v.1
No. 17. An act relating to the Uniform Commercial Code.
(H.206)
It is hereby enacted by the General Assembly of the State of Vermont:
Sec. 1. 9A V.S.A. article 1 is amended to read:
ARTICLE 1. GENERAL PROVISIONS
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§ 1—201. GENERAL DEFINITIONS
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(b) Subject to definitions contained in other articles of this title that apply
to particular articles or parts thereof:
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(10) “Conspicuous,” with reference to a term, means so written,
displayed, or presented that, based on the totality of the circumstances, a
reasonable person against which it is to operate ought to have noticed it.
Whether a term is “conspicuous” or not is a decision for the court.
Conspicuous terms include the following:
(A) a heading in capitals equal to or greater in size than the
surrounding text, or in contrasting type, font, or color to the surrounding text of
the same or lesser size; and
(B) language in the body of a record or display in larger type than the
surrounding text, or in contrasting type, font, or color to the surrounding text of

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the same size, or set off from surrounding text of the same size by symbols or
other marks that call attention to the language.
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(15) “Delivery,” with respect to an electronic document of title means
voluntary transfer of control and with respect to an instrument, a tangible
document of title, or an authoritative tangible copy of a record evidencing
chattel paper, means voluntary transfer of possession.
(16) “Document of title” means a record (i) that in the regular course of
business or financing is treated as adequately evidencing that the person in
possession or control of the record is entitled to receive, control, hold, and
dispose of the record and the goods the record covers; and (ii) that purports to
be issued by or addressed to a bailee and to cover goods in the bailee’s
possession which are either identified or are fungible portions of an identified
mass. The term includes a bill of lading, transport document, dock warrant,
dock receipt, warehouse receipt, and order for delivery of goods. An electronic
document of title means a document of title evidenced by a record consisting
of information stored in an electronic medium. A tangible document of title
means a document of title evidenced by a record consisting of information that
is inscribed on a tangible medium.
(16A) “Electronic” means relating to technology having electrical,
digital, magnetic, wireless, optical, electromagnetic, or similar capabilities.
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(21) “Holder” means:
(A) the person in possession of a negotiable instrument that is
payable either to bearer or to an identified person that is the person in
possession;
(B) the person in possession of a negotiable tangible document of
title if the goods are deliverable either to bearer or to the order of the person in
possession; or
(C) the person in control, other than pursuant to subsection 7-106(g)
of this title, of a negotiable electronic document of title.
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(24) “Money” means a medium of exchange that is currently authorized
or adopted by a domestic or foreign government. The term includes a
monetary unit of account established by an intergovernmental organization or
by agreement between two or more countries. The term does not include an
electronic record that is a medium of exchange recorded and transferable in a
system that existed and operated for the medium of exchange before the
medium of exchange was authorized or adopted by the government.
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(27) “Person” means an individual, corporation, business trust, estate,
trust, partnership, limited liability company, association, joint venture,
government, governmental subdivision, agency, or instrumentality, public
corporation, or any other legal or commercial entity. The term includes a

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protected series, however denominated, of an entity if the protected series is
established under law other than provided in this title that limits, or limits if
conditions specified under the law are satisfied, the ability of a creditor of the
entity or of any other protected series of the entity to satisfy a claim from
assets of the protected series.
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(36) “Send” “Send,” in connection with a writing, record, or notice
notification, means:
(A) to deposit in the mail or, deliver for transmission, or transmit by
any other usual means of communication, with postage or cost of transmission
provided for and properly addressed and, in the case of an instrument, to an
address specified thereon or otherwise agreed, or if there be none, addressed to
any address reasonable under the circumstances; or
(B) in any other way to cause to be received any record or notice
within the time it would have arrived if properly sent to cause the record or
notification to be received within the time it would have been received if
properly sent under subd