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Code · Washington · Title 62A — Uniform Commercial Code · Chapter 62A.8

RCW 62A.8-103

472 words·~2 min read·/wa/title-62a/chapter-62a-8/62a-8-103·

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

(1)A share or similar equity interest issued by a corporation, business trust, joint stock company, or similar entity is a security.
(2)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.
(3)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.
(4)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.
(5)An option or similar obligation issued by a clearing corporation to its participants is not a security, but is a financial asset.
(6)A commodity contract, as defined in RCW 62A.9A-102 , is not a security or a financial asset.
(7)A document of title is not a financial asset unless RCW 62A.8-102 (1)(i)(iii) applies.
(8)A controllable account, controllable electronic record, or controllable payment intangible is not a financial asset unless RCW 62A.8-102 (1)(i)(iii) applies.
[ 2023 c 266 s 802 ; 2012 c 214 s 1403 ; (2012 c 214 s 1402 expired July 1, 2013); 2011 c 74 s 706 ; 2000 c 250 s 9A-815; 1995 c 48 s 3 ; 1986 c 35 s 2 ; 1965 ex.s. c 157 s 8-103. Cf. former RCW 23.80.150 ; 1939 c 100 s 15 ; RRS s 3803-115; formerly RCW 23.20.140 .]
Notes:
Construction — Effective date — 2023 c 266: See notes following RCW 62A.12-101 .
Effective date — 2012 c 214 ss 902, 1403, 1502, 1508, 1511, 1514, 1516, and 1518: See note following RCW 62A.2A-103 .
Expiration date — 2012 c 214 ss 901, 1402, 1501, 1507, 1510, 1513, 1515, and 1517: See note following RCW 62A.2A-103 .
Application — Savings — 2012 c 214: See notes following RCW 62A.1-101 .
Application — Effective date — 2011 c 74: See notes following RCW 62A.9A-102 .
Effective date — 2000 c 250: See RCW 62A.9A-701 .
Effective date — 1995 c 48: See RCW 62A.11-113 .
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