Accounts

Except as used in "account for", defined in the UCC ( www.practicallaw.com/resource.do?item=:44405966) as a right to payment of a monetary obligation, whether or not earned by performance:

  • For property that has been or is to be sold, leased, licensed, assigned, or otherwise disposed of.

  • For services rendered or to be rendered.

  • For a policy of insurance issued or to be issued.

  • For a secondary obligation incurred or to be incurred.

  • For energy provided or to be provided.

  • For the use or hire of a vessel under a charter or other contract.

  • Arising out of the use of a credit or charge card or information contained on or for use with the card.

  • As winnings in a lottery or other game of chance operated or sponsored by a state, governmental unit of a State, or person licensed or authorized to operate the game by a State or governmental unit of a State.

The term includes health-care-insurance receivables.

The term does not include:

An account is an asset type over which an entity can grant a security interest ( www.practicallaw.com/resource.do?item=:44405960) under Article 9 of the UCC. For more information on security interests in accounts, see Practice Note, UCC Creation, Perfection and Priority of Security Interests ( www.practicallaw.com/6-381-0551) .

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