{"data":{"id":"us-ak/as-45.08.103","jurisdiction":"us-ak","citation":"AS 45.08.103","heading":"Rules for determining whether certain obligations and interests are securities or financial assets.","body":"(a) A share or similar equity interest issued by a corporation, business trust, joint stock company, or similar entity is a security.\n(b) An investment company security is a security.\n(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 chapter, 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.\n(d) A writing that is a security certificate is governed by this chapter and not by AS 45.03, even though it also meets the requirements of AS 45.03. However, a negotiable instrument governed by AS 45.03 is a financial asset if it is held in a securities account.\n(e) An option or similar obligation issued by a clearing corporation to its participants is not a security but is a financial asset.\n(f) A commodity contract, as defined in AS 45.29.102(a), is not a security or a financial asset.\n(g) A document of title is not a financial asset unless AS 45.08.102(a)(10)(C) applies.\n(h) In this section, “investment company security” means a share or similar equity interest issued by an entity that is registered as an investment company under federal investment company laws, an interest in a unit investment trust that is registered as an investment company under federal investment company laws, or a face-amount certificate issued by a face-amount certificate company that is registered as an investment company under federal investment company laws; “investment company security” does not include an insurance policy or endowment policy or annuity contract issued by an insurance company.","path":["Title 45. Trade and Commerce.","Chapter 08. Investment Securities."],"source_url":"https://www.akleg.gov/basis/statutes.asp#45.08.103","current_through":"Alaska Statutes 2025 (34th Legislature, 2025-2026)","vintage":"","retrieved_at":"2026-09-02T06:19:44Z","sha256":"25e933d0d06e8ef77012b92c7464dc7b7f78afac51e25f7ae9b7c825c93a201f","source_id":"us-ak","stale":false,"prev":"us-ak/as-45.08.102","next":"us-ak/as-45.08.104"},"notice":"GroundRules: Original legal text. Not legal advice."}