§ 8-103. Rules for Determining Whether Certain Obligations and Interests Are Securities or Fina...
Oklahoma Statutes AnnotatedTitle 12A. Commercial Code
12A Okl.St.Ann. § 8-103
§ 8-103. Rules for Determining Whether Certain Obligations and Interests Are Securities or Financial Assets
Rules for Determining Whether Certain Obligations and Interests Are Securities or Financial Assets.
(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.
Credits
Laws 1995, c. 242, § 3, eff. Feb. 1, 1996; Laws 2000, c. 371, § 160, eff. July 1, 2001; Laws 2005, c. 140, § 58, eff. Jan. 1, 2006.
12A Okl. St. Ann. § 8-103, OK ST T. 12A § 8-103
Current with emergency effective legislation through Chapter 257 of the Second Regular Session of the 59th Legislature (2024). Some sections may be more current, see credits for details.
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