{"data":{"id":"us-mt/30-8-113","jurisdiction":"us-mt","citation":"30-8-113","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, even though it also meets the requirements of that chapter. However, a negotiable instrument governed by chapter 3 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 30-9A-102, is not a security or a financial asset.\n(7) A document of title, as defined in 30-1-201(2)(p), is not a financial asset unless 30-8-112(1)(i)(i)(C) applies.\n(8) A controllable account, controllable electronic record, or controllable payment intangible is not a financial asset unless 30-8-112(1)(i)(i)(C) applies.","path":["TITLE 30. TRADE AND COMMERCE","CHAPTER 8. UNIFORM COMMERCIAL CODE INVESTMENT SECURITIES","Part 1. Short Title and General Matters"],"source_url":"https://mca.legmt.gov/bills/mca/title_0300/chapter_0080/part_0010/section_0130/0300-0080-0010-0130.html","current_through":"Montana Code Annotated 2025","vintage":"","retrieved_at":"2026-09-14T04:51:01Z","sha256":"41a9c975e3f512fb2483827a2b1558a87e9bdc2537c8355b0ddf3f4720d77277","source_id":"us-mt","stale":false,"prev":"us-mt/30-8-112","next":"us-mt/30-8-114"},"notice":"GroundRules: Original legal text. Not legal advice."}