{"data":{"id":"us-mn/minn.-stat.-336.8-103","jurisdiction":"us-mn","citation":"Minn. Stat. § 336.8-103","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 a general intangible and is not a security or a financial asset, except as follows:\n(1) An interest in a partnership or limited liability company is a security and is not a general intangible if it is dealt in or traded on a securities exchange or in a securities market, its terms expressly provide that it is a security governed by this article, or it is an investment company security.\n(2) An interest in a partnership or limited liability company is a financial asset and is not a general intangible 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 section 336.9-102(a)(15), is not a security or a financial asset.\n(g) A document of title is not a financial asset unless section 336.8-102(a)(9)(iii) applies.\n(h) A controllable account, controllable electronic record, or controllable payment intangible is not a financial asset unless section 336.8-102(a)(9)(iii) applies.","path":["TRADE REGULATIONS, CONSUMER PROTECTION","CHAPTER 336. UNIFORM COMMERCIAL CODE","Revised Article 8 INVESTMENT SECURITIES","Part 1 SHORT TITLE AND GENERAL MATTERS"],"source_url":"https://www.revisor.mn.gov/statutes/cite/336.8-103","current_through":"2025 Minnesota Statutes","vintage":"","retrieved_at":"2026-09-02T22:10:43Z","sha256":"047176772032abbe919d2b77ff5cad00b46a4ed51a260724619577d1d2da00d1","source_id":"us-mn","stale":false,"prev":"us-mn/minn.-stat.-336.8-102","next":"us-mn/minn.-stat.-336.8-104"},"notice":"GroundRules: Original legal text. Not legal advice."}