40-33-202 - Part definitions.
40-33-202. Part definitions.
As used in this part, unless the context otherwise requires:
(1) Applicable agency means the agency, board, commission or department charged by law or permitted by agreement with conducting the forfeiture proceeding for the particular property seized; and
(2) Secured party means the holder of a security interest in the seized property acquired in the ordinary course of business within the meaning of § 47-9-102(a) and shall include a recourse party under the terms of a financing agreement.
[Acts 1994, ch. 925, § 1; 2000, ch. 846, § 27.]