§ 39-1-54 - Intangible transition property – The Uniform Commercial Code. - Rhode Island Statutes

SECTION 39-1-54

   § 39-1-54  Intangible transition property– The Uniform Commercial Code. – For purposes of § 6A-9-106 of the Uniform Commercial Code, title 6A,neither intangible transition property nor any right, title or interest of anelectric distribution company or assignee of such property, whether before orafter the issuance of the securitization order, shall be considered "accounts"or "general intangibles"; nor, for purposes of Article 9 of the UniformCommercial Code (chapter 9 of title 6A) shall a securitization order or anysuch right, title or interest pertaining thereto, including the associatedintangible transition property and any revenues, collections, claims, payments,money or other property and amounts arising from intangible transition chargespursuant to such order, be deemed proceeds of any right or interest other thansuch order and the intangible property arising therefrom.