{"data":{"id":"us-fl/fla.-stat.-678.1031","jurisdiction":"us-fl","citation":"Fla. Stat. § 678.1031","heading":"Rules for determining whether certain obligations and interests are securities or financial assets.","body":"(1) A share or similar equity interest issued by a corporation, business trust, joint stock company, or similar entity is a security.\n(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.\n(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 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(4) A writing that is a security certificate is governed by this chapter and not by chapter 673, even though it also meets the requirements of that chapter. However, a negotiable instrument governed by chapter 673 is a financial asset if it is held in a securities account.\n(5) An option or similar obligation issued by a clearing corporation to its participants is not a security, but is a financial asset.\n(6) A commodity contract, as defined in s. 679.1021(1), is not a security or a financial asset.\n(7) A document of title is not a financial asset unless s. 678.1021(1)(i)2. applies.\n(8) A controllable account, controllable electronic record, or controllable payment intangible is not a financial asset unless s. 678.1021(1)(i) applies.\nHistory.—s. 1, ch. 98-11; s. 19, ch. 2001-198; s. 57, ch. 2010-131; s. 63, ch. 2025-92.","path":["CHAPTER 678 UNIFORM COMMERCIAL CODE: INVESTMENT SECURITIES"],"source_url":"https://www.leg.state.fl.us/statutes/index.cfm?App_mode=Display_Statute\u0026URL=0600-0699/0678/0678.html","current_through":"2026 Florida Statutes","vintage":"","retrieved_at":"2026-08-27T02:11:55Z","sha256":"c52420b47bcb7dbfd43da71c8c2faa142e661d15e1994d9968eaa2f3efa322a4","source_id":"us-fl","stale":false,"prev":"us-fl/fla.-stat.-678.1021","next":"us-fl/fla.-stat.-678.1041"},"notice":"GroundRules: Original legal text. Not legal advice."}