{"data":{"id":"us-az/a.r.s.-47-8103","jurisdiction":"us-az","citation":"A.R.S. § 47-8103","heading":"Rules for determining whether certain obligations and interests as 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\nB. 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.\n\nC. 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\nD. A writing that is a security certificate is governed by this chapter and not by chapter 3 of this title, even though it also meets the requirements of that chapter. However, a negotiable instrument governed by chapter 3 of this title is a financial asset if it is held in a securities account.\n\nE. An option or similar obligation issued by a clearing corporation to its participants is not a security, but is a financial asset.\n\nF. A commodity contract, as defined in section 47-9102, is not a security or a financial asset.\n\nG. A document of title is not a financial asset unless section 47-8102, subsection A, paragraph 9, subdivision (c) applies.","path":["Title 47 Weights and Measures"],"source_url":"https://www.azleg.gov/ars/47/08103.htm","current_through":"57th Legislature, 2nd Regular Session (effective 2027-01-01); mirror section count 24991","vintage":"2026-09-15","retrieved_at":"2026-09-26T04:29:04Z","sha256":"75649f5b4a94fb4f292bafa89d23f7ad586e020abd2ec8da81130152200f6bb3","source_id":"us-az","stale":false,"prev":"us-az/a.r.s.-47-8102","next":"us-az/a.r.s.-47-8104"},"notice":"GroundRules: Original legal text. Not legal advice."}