13-2201. Definitions


In this chapter, unless the context otherwise requires:


1. "Adulterated" means varying from the standard of composition or quality
prescribed by statute or administrative regulation or, if none, as set by established
commercial usage.


2. "Fiduciary" means a trustee, guardian, executor, administrator, receiver or any
other person carrying on functions of trust on behalf of another person, corporation or
organization.


3. "Financial institution" means a bank, insurance company, credit union, savings
and loan association, investment trust or other organization held out to the public as a
place of deposit for funds or medium of savings or collective investment.


4. "Insolvent" means that, for any reason, a financial institution is unable to pay
its obligations in the ordinary or usual course of business or the present fair salable
value of its assets is less than the amount that will be required to pay its probable
liabilities on its existing debts as they become absolute and matured.


5. "Mislabeled" means:


(a) Varying from the standard of truth or disclosure in labeling prescribed by
statute or administrative regulation or, if none, as set by established commercial usage;
or


(b) Represented as being another person's product, though otherwise labeled
accurately as to quality and quantity.


6. "Misleading statement" means an offer to sell property or services when the
offerer does not intend to sell or provide the advertised property or services:


(a) At a price equal to or lower than the price offered; or


(b) In a quantity sufficient to meet the reasonably expected public demand, unless
the quantity available is specifically stated in the advertisement; or


(c) At all.


7. "Security interest" means an interest in personal property or fixtures pursuant
to title 47, chapter 9.