Okla. Stat. tit. 12A, § 12A-8-103
This is the official text of Okla. Stat. tit. 12A, § 12A-8-103, part of Oklahoma’s Stat. tit. 12A, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 12A,." Browse the sections below, each linked to its official government source.
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Rules for determining whether certain obligations and
Official statutory text
interests are securities or financial assets.
Rules for Determining Whether Certain Obligations and Interests
Are Securities or Financial Assets.
(a) A share or similar equity interest issued by a corporation,
business trust, joint stock company, or similar entity is a
security.
(b) An "investment company security" is a security.
"Investment company security" means a share or similar equity
interest issued by an entity that is registered as an investment
company under the federal investment company laws, an interest in a
unit investment trust that is so registered, or a face-amount
certificate issued by a face-amount certificate company that is so
registered. Investment company security does not include an
insurance policy or endowment policy or annuity contract issued by
an insurance company.
(c) An interest in a partnership or limited liability company
is not a security unless it is dealt in or traded on securities
exchanges or in securities markets, its terms expressly provide that
it is a security governed by this article, or it is an investment
company security. However, an interest in a partnership or limited
liability company is a financial asset if it is held in a securities
account.
(d) A writing that is a security certificate is governed by
this article and not by Article 3 of this code, even though it also
meets the requirements of that article. However, a negotiable
instrument governed by Article 3 of this code is a financial asset
if it is held in a securities account.
(e) An option or similar obligation issued by a clearing
corporation to its participants is not a security, but is a
financial asset.
(f) A commodity contract, as defined in paragraph (15) of
subsection (a) of Section 1-9-102 of this title, is not a security
or a financial asset.
(g) A document of title is not a financial asset unless
subparagraph (iii) of paragraph (9) of subsection (a) of Section 8-
102 of this title applies.
Oklahoma Statutes - Title 12A. Uniform Commercial Code Page 424
(h) A controllable account, controllable electronic record, or
controllable payment intangible is not a financial asset unless
subparagraph (iii) of paragraph 9 of subsection (a) of Section 8-102
of this title applies.
Rules for Determining Whether Certain Obligations and Interests
Are Securities or Financial Assets.
(a) A share or similar equity interest issued by a corporation,
business trust, joint stock company, or similar entity is a
security.
(b) An "investment company security" is a security.
"Investment company security" means a share or similar equity
interest issued by an entity that is registered as an investment
company under the federal investment company laws, an interest in a
unit investment trust that is so registered, or a face-amount
certificate issued by a face-amount certificate company that is so
registered. Investment company security does not include an
insurance policy or endowment policy or annuity contract issued by
an insurance company.
(c) An interest in a partnership or limited liability company
is not a security unless it is dealt in or traded on securities
exchanges or in securities markets, its terms expressly provide that
it is a security governed by this article, or it is an investment
company security. However, an interest in a partnership or limited
liability company is a financial asset if it is held in a securities
account.
(d) A writing that is a security certificate is governed by
this article and not by Article 3 of this code, even though it also
meets the requirements of that article. However, a negotiable
instrument governed by Article 3 of this code is a financial asset
if it is held in a securities account.
(e) An option or similar obligation issued by a clearing
corporation to its participants is not a security, but is a
financial asset.
(f) A commodity contract, as defined in paragraph (15) of
subsection (a) of Section 1-9-102 of this title, is not a security
or a financial asset.
(g) A document of title is not a financial asset unless
subparagraph (iii) of paragraph (9) of subsection (a) of Section 8-
102 of this title applies.
Oklahoma Statutes - Title 12A. Uniform Commercial Code Page 424
(h) A controllable account, controllable electronic record, or
controllable payment intangible is not a financial asset unless
subparagraph (iii) of paragraph 9 of subsection (a) of Section 8-102
of this title applies.
Status: in_force · Read it on the official government site
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