15 U.S.C. § 7006 — Definitions

Page 2309 TITLE 15—COMMERCE AND TRADE § 7021 on electronic commerce by that provision; whether the benefits outweigh the burdens; whether the absence of the procedure required by section 7001(c)(1)(C)(ii) of this title would in- crease the incidence of fraud directed against consumers; and suggesting any revisions to the provision deemed appropriate by the Secretary and the Commission. In conducting this evalua- tion, the Secretary and the Commission shall solicit comment from the general public, con- sumer representatives, and electronic commerce businesses. (Pub. L. 106–229, title I, § 105, June 30, 2000, 114 Stat. 471.) Statutory Notes and Related Subsidiaries EFFECTIVE DATE Section effective Oct. 1, 2000, with exceptions relating to record retention and certain loans, see section 107 of Pub. L. 106–229, set out as a note under section 7001 of this title. § 7006. Definitions For purposes of this subchapter: (1) Consumer The term ‘‘consumer’’ means an individual who obtains, through a transaction, products or services which are used primarily for per- sonal, family, or household purposes, and also means the legal representative of such an indi- vidual. (2) Electronic The term ‘‘electronic’’ means relating to technology having electrical, digital, mag- netic, wireless, optical, electromagnetic, or similar capabilities. (3) Electronic agent The term ‘‘electronic agent’’ means a com- puter program or an electronic or other auto- mated means used independently to initiate an action or respond to electronic records or performances in whole or in part without re- view or action by an individual at the time of the action or response. (4) Electronic record The term ‘‘electronic record’’ means a con- tract or other record created, generated, sent, communicated, received, or stored by elec- tronic means. (5) Electronic signature The term ‘‘electronic signature’’ means an electronic sound, symbol, or process, attached to or logically associated with a contract or other record and executed or adopted by a per- son with the intent to sign the record. (6) Federal regulatory agency The term ‘‘Federal regulatory agency’’ means an agency, as that term is defined in section 552(f) of title 5. (7) Information The term ‘‘information’’ means data, text, images, sounds, codes, computer programs, software, databases, or the like. (8) Person The term ‘‘person’’ means an individual, cor- poration, business trust, estate, trust, partner- ship, limited liability company, association, joint venture, governmental agency, public corporation, or any other legal or commercial entity. (9) Record The term ‘‘record’’ means information that is inscribed on a tangible medium or that is stored in an electronic or other medium and is retrievable in perceivable form. (10) Requirement The term ‘‘requirement’’ includes a prohibi- tion. (11) Self-regulatory organization The term ‘‘self-regulatory organization’’ means an organization or entity that is not a Federal regulatory agency or a State, but that is under the supervision of a Federal regu- latory agency and is authorized under Federal law to adopt and administer rules applicable to its members that are enforced by such orga- nization or entity, by a Federal regulatory agency, or by another self-regulatory organi- zation. (12) State The term ‘‘State’’ includes the District of Columbia and the territories and possessions of the United States. (13) Transaction The term ‘‘transaction’’ means an action or set of actions relating to the conduct of busi- ness, consumer, or commercial affairs between two or more persons, including any of the fol- lowing types of conduct— (A) the sale, lease, exchange, licensing, or other disposition of (i) personal property, in- cluding goods and intangibles, (ii) services, and (iii) any combination thereof; and (B) the sale, lease, exchange, or other dis- position of any interest in real property, or any combination thereof. (Pub. L. 106–229, title I, § 106, June 30, 2000, 114 Stat. 472.) Statutory Notes and Related Subsidiaries EFFECTIVE DATE Section effective Oct. 1, 2000, with exceptions relating to record retention and certain loans, see section 107 of Pub. L. 106–229, set out as a note under section 7001 of this title. SUBCHAPTER II—TRANSFERABLE RECORDS § 7021. Transferable records (a) Definitions For purposes of this section: (1) Transferable record The term ‘‘transferable record’’ means an electronic record that— (A) would be a note under Article 3 of the Uniform Commercial Code if the electronic record were in writing; (B) the issuer of the electronic record ex- pressly has agreed is a transferable record; and (C) relates to a loan secured by real prop- erty.