Definitions.

443.921. Definitions. — For purposes of sections 443.920 to 443.925 , the following terms mean: (1) "Electronic" , relating to technology having electrical, digital, magnetic, wireless, optical, electromagnetic, or similar capabilities; (2) "Financial covenant" , an undertaking to demonstrate an obligor's creditworthiness, or the adequacy of security provided by an obligor; (3) "Modification" , includes any change, amendment, revision, correction, addition, supplementation, elimination, waiver, and restatement; (4) "Mortgage" : (a) An agreement that creates a consensual interest in real property to secure payment or performance of an obligation, regardless of: a. How the agreement is denominated, including a mortgage, deed of trust, trust deed, security deed, indenture, and deed to secure debt; and b. Whether the agreement also creates a security interest in personal property; and (b) Does not include an agreement that creates a consensual interest to secure a liability owed by a unit owner to a condominium association, owners' association, or cooperative housing association for association dues, fees, or assessments; (5) "Mortgage modification" , modification of: (a) A mortgage; (b) An agreement that creates an obligation, including a promissory note, loan agreement, or credit agreement; or (c) An agreement that creates other security or credit enhancement for an obligation, including an assignment of leases or rents or a guaranty; (6) "Obligation" , a debt, duty, or other liability, secured by a mortgage; (7) "Obligor" , a person that: (a) Owes payment or performance of an obligation; (b) Signs a mortgage; or (c) Is otherwise accountable, or whose property serves as collateral, for payment or performance of an obligation; (8) "Person" , an individual, estate, business or nonprofit entity, government or governmental subdivision, agency, or instrumentality, or other legal entity; (9) "Recognized index" , an index to which changes in the interest rate may be linked that is: (a) Readily available to, and verifiable by, the obligor; and (b) Beyond the control of the person to whom the obligation is owed; (10) "Record" , used as a noun, means information: (a) Inscribed on a tangible medium; or (b) Stored in an electronic or other medium and retrievable in perceivable form; (11) "Sign" , with present intent to authenticate or adopt a record: (a) Execute or adopt a tangible symbol; or (b) Attach to or logically associate with the record an electronic symbol, sound, or process. (L. 2026 H.B. 2636 merged with S.B. 834) Severability clause, see §§ 1.1004 and 443.927