Idaho State Statutes - Idaho Attorney Directory

As used in this
act:
(1) "Affiliate" means:
(a) A person who directly or indirectly owns, controls, or holds with
power to vote, twenty percent (20%) or more of the outstanding voting
securities of the debtor, other than a person who holds the securities:
1. as a fiduciary or agent without sole discretionary power to vote
the securities; or
2. solely to secure a debt, if the person has not exercised the
power to vote;
(b) A corporation twenty percent (20%) or more of whose outstanding
voting securities are directly or indirectly owned, controlled, or held
with power to vote, by the debtor or a person who directly or indirectly
owns, controls, or holds with power to vote, twenty percent (20%) or more
of the outstanding voting securities of the debtor, other than a person
who holds the securities:
1. as a fiduciary or agent without sole power to vote the
securities; or
2. solely to secure a debt, if the person has not in fact exercised
the power to vote:[;]
(c) A person whose business is operated by the debtor under a lease or
other agreement, or a person substantially all of whose assets are
controlled by the debtor; or
(d) A person who operates the debtor's business under a lease or other
agreement or controls substantially all of the debtor's assets.
(2) "Asset" means property of a debtor, but the term does not include:
(a) Property to the extent it is encumbered by a valid lien;
(b) Property to the extent it is generally exempt under nonbankruptcy
law.
(3) "Claim" means a right to payment, whether or not the right is reduced
to judgment, liquidated, unliquidated, fixed, contingent, matured, unmatured,
disputed, undisputed, legal, equitable, secured, or unsecured.
(4) "Creditor" means a person who has a claim.
(5) "Debt" means liability on a claim.
(6) "Debtor" means a person who is liable on a claim.
(7) "Insider" includes:
(a) If the debtor is an individual:
1. a relative of the debtor or of a general partner of the debtor;
2. a partnership in which the debtor is a general partner;
3. a general partner in a partnership described in subsection
(7)(a)2. of this section; or
4. a corporation of which the debtor is a director, officer, or
person in control;
(b) If the debtor is a corporation:
1. a director of the debtor;
2. an officer of the debtor;
3. a person in control of the debtor;
4. a partnership in which the debtor is a general partner;
5. a general partner in a partnership described in subsection
(7)(b)4. of this section; or
6. a relative of a general partner, director, officer, or person in
control of the debtor;
(c) If the debtor is a partnership:
1. a general partner in the debtor;
2. a relative of a general partner in, or a general partner of, or a
person in control of the debtor;
3. another partnership in which the debtor is a general partner;
4. a general partner in a partnership described in subsection
(7)(c)3., of this section; or
5. a person in control of the debtor;
(d) An affiliate, or an insider of an affiliate as if the affiliate were
the debtor; and
(e) A managing agent of the debtor.
(8) "Lien" means a charge against or an interest in property to secure
payment of a debt or performance of an obligation, and includes a security
interest created by agreement, a judicial lien obtained by legal or equitable
process or proceedings, a common-law lien, or a statutory lien.
(9) "Person" means an individual, partnership, corporation, association,
organization, government or governmental subdivision or agency, business
trust, estate, trust, or any other legal or commercial entity.
(10) "Property" means anything that may be the subject of ownership.
(11) "Relative" means an individual related by consanguinity within the
third degree as determined by the common law, a spouse, or an individual
related to a spouse within the third degree as so determined, and includes an
individual in an adoptive relationship within the third degree.
(12) "Transfer" mean[s] every mode, direct or indirect, absolute or
conditional, voluntary or involuntary, of disposing of or parting with an
asset or an interest in an asset, and includes payment of money, release,
lease, and creation of a lien or other encumbrance.
(13) "Valid lien" means a lien that is effective against the holder of a
judicial lien subsequently obtained by legal or equitable process or
proceedings.

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