Indiana § 26-1-8.1-103 Classification as security or financial asset

Indiana Statutes

§ 26-1-8.1-103 — Classification as security or financial asset

Indiana § 26-1-8.1-103

Title 26COMMERCIAL LAW

Art. 1UNIFORM COMMERCIAL CODE

Ch. 8.1Investment Securities

This text of Indiana § 26-1-8.1-103 (Classification as security or financial asset) is published on Counsel Stack Legal Research, covering Indiana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ind. Code § 26-1-8.1-103 (2026).

Text

(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

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(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 IC 26-1-8.1, 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 IC 26-1-8.1
and not by IC 26-1-3.1, even though it also meets the requirements of
that article. However, a negotiable instrument governed by IC 26-1-3.1
is a financial asset if it is held in a securities account.
(e) An option or a similar obligation issued by a clearing corporation
to its participants is not a security, but it is a financial asset.
(f) A commodity contract (as defined in IC 26-1-9.1-102(a)(15)) is
not a security or a financial asset.
(g) A document of title is not a financial asset unless section
102(a)(9)(iii) of this chapter applies.
(h) A controllable account, a controllable electronic record, or a
controllable payment intangible is not a financial asset unless section
102(a)(9)(iii) of this chapter applies.