§ 34.1-8-103 — Rules for determining whether certain obligations and interests are securities or financial assets

Wyoming § 34.1-8-103

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

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 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, even though it also meets
the requirements of that article. However, a negotiable
instrument governed by article 3 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 W.S.
34.1-9-102(a)(xv), is not a security or a financial asset.
(g) A document of title is not a financial asset unless
section 34.1-8-102(a)(ix)(C) applies.