{"data":{"id":"us-ks/k.s.a.-84-8-103","jurisdiction":"us-ks","citation":"K.S.A. 84-8-103","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. \"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(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 article, 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 article and not by article 3, even though it also meets the requirements of that article. However, a negotiable instrument governed by article 3 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 K.S.A. 2025 Supp. 84-9-102(a)(15), and amendments thereto, is not a security or a financial asset.\n(g) A document of title is not a financial asset unless K.S.A. 84-8-102(a)(9)(iii), and amendments thereto, applies.","path":["Chapter 84.—UNIFORM COMMERCIAL CODE","Article 8.—INVESTMENT SECURITIES"],"source_url":"https://www.ksrevisor.gov/statutes/chapters/ch84/084_008_0103.html","current_through":"2025 legislative session","vintage":"","retrieved_at":"2026-09-04T15:15:37Z","sha256":"f9699d438cdea9ad810f2f00ac824ea6272292d310fe5c9caac04af3b1d15250","source_id":"us-ks","stale":false,"prev":"us-ks/k.s.a.-84-8-102","next":"us-ks/k.s.a.-84-8-104"},"notice":"GroundRules: Original legal text. Not legal advice."}