{"data":{"id":"us-dc/d.c.-code-28-8-102","jurisdiction":"us-dc","citation":"D.C. Code § 28:8-102","heading":"Definitions.","body":"(a)\nFor the purposes of this article, the term:\n(1)\n“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.\n(2)\n“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.\n(3)\n“Broker” means a person defined as a broker or dealer under the federal securities laws, but without excluding a bank acting in that capacity.\n(4)\n“Certificated security” means a security that is represented by a certificate.\n(5)\n“Clearing corporation” means:\n(A)\nA person that is registered as a “clearing agency” under the federal securities laws;\n(B)\nA federal reserve bank; or\n(C)\nAny 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.\n(6)\n“Communicate” means to:\n(A)\nSend a signed record; or\n(B)\nTransmit information by any mechanism agreed upon by the persons transmitting and receiving the information.\n(7)\n“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 § 28:8-501(b)(2) or (3), that person is the entitlement holder.\n(8)\n“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.\n(9)\n(A)\n“Financial asset,” except as otherwise provided in § 28:8-103, means:\n(i)\nA security;\n(ii)\nAn 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\n(iii)\nAny 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.\n(B)\nAs context requires, the term “financial asset” 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.\n(10)\nRepealed.\n(11)\n“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.\n(12)\n“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.\n(13)\n“Registered form,” as applied to a certificated security, means a form in which:\n(A)\nThe security certificate specifies a person entitled to the security; and\n(B)\nA 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.\n(14)\n“Securities intermediary” means:\n(A)\nA clearing corporation; or\n(B)\nA 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.\n(15)\n“Security,” except as otherwise provided in § 28:8-103, 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 which:\n(A)\nIs 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;\n(B)\nIs one of a class or series or by its terms is divisible into a class or series of shares, participations, interests, or obligations; and\n(C)\n(i)\nIs, or is of a type, dealt in or traded on securities exchanges or securities markets; or\n(ii)\nIs a medium for investment and by its terms expressly provides that it is a security governed by this article.\n(16)\n“Security certificate” means a certificate representing a security.\n(17)\n“Security entitlement” means the rights and property interest of an entitlement holder with respect to a financial asset specified in Part 5.\n(18)\n“Uncertificated security” means a security that is not represented by a certificate.\n\n(b)\nThe following definitions in this article and other articles apply to this article:\n(1)\n\"Appropriate person\". § 28:8-107.\n(2)\n\"Control\". § 28:8-106.\n(3)\n\"Controllable account\". § 28:9-102.\n(4)\n\"Controllable electronic record\". § 28:12-102.\n(5)\n\"Controllable payment intangible\". § 28:9-102.\n(6)\n\"Delivery\". § 28:8-301.\n(7)\n\"Investment company security\". § 28:8-103.\n(8)\n\"Issuer\". § 28:8-201.\n(9)\n\"Overissue\". § 28:8-210.\n(10)\n\"Protected purchaser\". § 28:8-303.\n(11)\n\"Securities account\". § 28:8-501.\n\n(c)\nIn addition, Article 1 contains general definitions and principles of construction and interpretation applicable throughout this article.\n\n(d)\nThe 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.","path":["Title 28. Commercial Instruments and Transactions. [Enacted title]","Subtitle I. Uniform Commercial Code.","Article 8. Investment Securities.","Part I. Short Title and General Matters."],"source_url":"https://code.dccouncil.gov/us/dc/council/code/sections/28:8-102","current_through":"2026-08-20 (D.C. Law 26-175)","vintage":"","retrieved_at":"2026-08-29T05:44:07Z","sha256":"2106dfc12978d1d0fcf3916ca3a8a23c1f898e738003e7741fbd2cde6b292287","source_id":"us-dc","stale":false,"prev":"us-dc/d.c.-code-28-8-101","next":"us-dc/d.c.-code-28-8-103"},"notice":"GroundRules: Original legal text. Not legal advice."}