428.009. Definitions.
Definitions.
428.009. As used in sections 428.005 to 428.059, thefollowing terms mean:
(1) "Affiliate":
(a) A person who directly or indirectly owns, controls, orholds with power to vote, twenty percent or more of theoutstanding voting securities of the debtor, other than a personwho holds the securities,
(i) As a fiduciary or agent without sole discretionarypower to vote the securities; or
(ii) Solely to secure a debt, if the person has notexercised the power to vote;
(b) A corporation twenty percent or more of whoseoutstanding voting securities are directly or indirectly owned,controlled, or held with power to vote, by the debtor or a personwho directly or indirectly owns, controls, or holds, with powerto vote, twenty percent or more of the outstanding votingsecurities of the debtor, other than a person who holds thesecurities,
(i) As fiduciary or agent without sole power to vote thesecurities; or
(ii) Solely to secure a debt, if the person has not in factexercised the power to vote;
(c) A person whose business is operated by the debtor undera lease or other agreement, or a person substantially all ofwhose assets are controlled by the debtor; or
(d) A person who operates the debtor's business under alease or other agreement or controls substantially all of thedebtor's assets.
(2) "Asset", property of a debtor, but the term does notinclude:
(a) Property to the extent it is encumbered by a validlien;
(b) Property to the extent it is generally exempt undernonbankruptcy law; or
(c) An interest in property held in tenancy by theentireties to the extent it is not subject to process by acreditor holding a claim against only one tenant.
(3) "Claim", a right to payment, whether or not the rightis reduced to judgment, liquidated, unliquidated, fixed,contingent, matured, unmatured, disputed, undisputed, legal,equitable, secured, or unsecured.
(4) "Creditor", a person who has a claim.
(5) "Debt", liability on a claim.
(6) "Debtor", a person who is liable on a claim.
(7) "Insider" includes:
(a) If the debtor is an individual,
a. A relative of the debtor or of a general partner of thedebtor;
b. A partnership in which the debtor is a general partner;
c. A general partner in a partnership described insubparagraph b; or
d. A corporation of which the debtor is a director,officer, or person in control;
(b) If the debtor is a corporation,
a. A director of the debtor;
b. An officer of the debtor;
c. A person in control of the debtor;
d. A partnership in which the debtor is a general partner;
e. A general partner in a partnership described insubparagraph d; or
f. A relative of a general partner, director, officer, orperson in control of the debtor;
(c) If the debtor is a partnership,
a. A general partner in the debtor;
b. A relative of a general partner in, a general partnerof, or a person in control of the debtor;
c. Another partnership in which the debtor is a generalpartner;
d. A general partner in a partnership described insubparagraph c; or
e. A person in control of the debtor;
(d) An affiliate, or an insider of an affiliate as if theaffiliate were the debtor; and
(e) A managing agent of the debtor.
(8) "Lien", a charge against or an interest in property tosecure payment of a debt or performance of an obligation, andincludes a security interest created by agreement, a judiciallien obtained by legal or equitable process or proceedings, acommon-law lien, or a statutory lien.
(9) "Person", an individual, partnership, corporation,association, organization, government or governmental subdivisionor agency, business trust, estate, trust, or any other legal orcommercial entity.
(10) "Property", anything that may be the subject ofownership.
(11) "Relative", an individual related by consanguinitywithin the third degree as determined by the common law, aspouse, or an individual related to a spouse within the thirddegree as so determined, and includes an individual in anadoptive relationship within the third degree.
(12) "Transfer", every mode, direct or indirect, absoluteor conditional, voluntary or involuntary, of disposing of orparting with an asset or an interest in an asset, and includespayment of money, release, lease, and creation of a lien or otherencumbrance.
(13) "Valid lien", a lien that is effective against theholder of a judicial lien subsequently obtained by legal orequitable process or proceedings.
(L. 1992 S.B. 448)