§ 34.1-8-102 — Definitions

Wyoming § 34.1-8-102

• Jurisdiction: Wyoming
• Title 34.1: Uniform Commercial Code
• Art. 8: INVESTMENT SECURITIES

Text

(a) In this article:
(i) "Adverse claim" means a claim that a claimant has
a property interest in a financial asset and that it is a
violation of the rights of the claimant for another person to
hold, transfer, or deal with the financial asset;
(ii) "Bearer form," as applied to a certificated
security, means a form in which the security is payable to the
bearer of the security certificate according to its terms but
not by reason of an indorsement;
(iii) "Broker" means a person defined as a broker or
dealer under the federal securities laws, but without excluding
a bank acting in that capacity;
(iv) "Certificated security" means a security that is
represented by a certificate;
(v) "Clearing corporation" means:
(A) A person that is registered as a "clearing
agency" under the federal securities laws;
(B) A federal reserve bank; or
(C) Any other person that provides clearance or
settlement services with respect to financial assets that would
require it to register as a clearing agency under the federal
securities laws but for an exclusion or exemption from the
registration requirement, if its activities as a clearing
corporation, including promulgation of rules, are subject to
regulation by a federal or state governmental authority.
(vi) "Communicate" means to:
(A) Send a signed writing; or
(B) Transmit information by any mechanism agreed
upon by the persons transmitting and receiving the information.
(vii) "Entitlement holder" means a person identified
in the records of a securities intermediary as the person having
a security entitlement against the securities intermediary. If
a person acquires a security entitlement by virtue of W.S.
34.1-8-501(b)(ii) or (iii), that person is the entitlement
holder;
(viii) "Entitlement order" means a notification
communicated to a securities intermediary directing transfer or
redemption of a financial asset to which the entitlement holder
has a security entitlement;
(ix) "Financial asset," except as otherwise provided
in W.S. 34.1-8-103, means: (1) a security; (2) an obligation of
a person or a share, participation, or other interest in a
person or in property or an enterprise of a person, which is, or
is of a type, dealt in or traded on financial markets, or which
is recognized in any area in which it is issued or dealt in as a
medium for investment; or (3) any property that is held by a
securities intermediary for another person in a securities
account if the securities intermediary has expressly agreed with
the other person that the property is to be treated as a
financial asset under this article. As context requires, the
term means either the interest itself or the means by which a
person's claim to it is evidenced, including a certificated or
uncertificated security, a security certificate, or a security
entitlement;
(x) Reserved;
(xi) "Indorsement" means a signature that alone or
accompanied by other words is made on a security certificate in
registered form or on a separate document for the purpose of
assigning, transferring, or redeeming the security or granting a
power to assign, transfer, or redeem it;
(xii) "Instruction" means a notification communicated
to the issuer of an uncertificated security which directs that
the transfer of the security be registered or that the security
be redeemed;
(xiii) "Registered form," as applied to a
certificated security, means a form in which:
(A) The security certificate specifies a person
entitled to the security; and
(B) A transfer of the security may be registered
upon books maintained for that purpose by or on behalf of the
issuer, or the security certificate so states.
(xiv) "Securities intermediary" means:
(A) A clearing corporation; or
(B) A person, including a bank or broker, that
in the ordinary course of its business maintains securities
accounts for others and is acting in that capacity.
(xv) "Security," except as otherwise provided in W.S.
34.1-8-103, means an obligation of an issuer or a share,
participation, or other interest in an issuer or in property or
an enterprise of an issuer:
(A) Which is represented by a security
certificate in bearer or registered form, or the transfer of
which may be registered upon books maintained for that purpose
by or on behalf of the issuer;
(B) Which is one of a class or series or by its
terms is divisible into a class or series of shares,
participations, interests, or obligations; and
(C) Which:
(I) Is, or is of a type, dealt in or traded
on securities exchanges or securities markets; or
(II) Is a medium for investment and by its
terms expressly provides that it is a security governed by this
article.
(xvi) "Security certificate" means a certificate
representing a security;
(xvii) "Security entitlement" means the rights and
property interest of an entitlement holder with respect to a
financial asset specified in Part 5;
(xviii) "Uncertificated security" means a security
that is not represented by a certificate.
(b) Other definitions applying to this article and the
sections in which they appear are:
Appropriate person W.S. 34.1-8-107
Control W.S. 34.1-8-106
Delivery W.S. 34.1-8-301
Investment company
security W.S. 34.1-8-103
Issuer W.S. 34.1-8-201
Overissue W.S. 34.1-8-210
Protected purchaser W.S. 34.1-8-303
Securities account W.S. 34.1-8-501
(c) In addition, article 1 contains general definitions
and principles of construction and interpretation applicable
throughout this article.
(d) The characterization of a person, business, or
transaction for purposes of this article does not determine the
characterization of the person, business, or transaction for
purposes of any other law, regulation, or rule.