{"data":{"id":"us-id/idaho-code-28-8-103","jurisdiction":"us-id","citation":"Idaho Code § 28-8-103","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 3, title 28, even though it also meets the requirements of chapter 3, title 28. However, a negotiable instrument governed by chapter 3, title 28, 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 section 28-9-102(a)(15), is not a security or a financial asset.\n(7) A document of title is not a financial asset unless section 28-8-102(1)(i)(iii) applies.","path":["TITLE 28 COMMERCIAL TRANSACTIONS","CHAPTER 8 INVESTMENT SECURITIES","PART 1. SHORT TITLE AND GENERAL MATTERS"],"source_url":"https://legislature.idaho.gov/statutesrules/idstat/title28/t28ch8/sect28-8-103/","current_through":"2026 Legislative Session","vintage":"","retrieved_at":"2026-09-04T11:18:18Z","sha256":"322134140255255782ecca21668e8fa41e831a4038ce618371ef7e2e38b2b44b","source_id":"us-id","stale":false,"prev":"us-id/idaho-code-28-8-102","next":"us-id/idaho-code-28-8-104"},"notice":"GroundRules: Original legal text. Not legal advice."}