{"data":{"id":"us-nj/n.j.-stat.-12a-8-103","jurisdiction":"us-nj","citation":"N.J. Stat. § 12A:8-103","heading":"Rule for determining whether certain obligations and interests are securities or financial assets.","body":"Rule for Determining whether Certain Obligations and Interests are Securities or Financial Assets.\na.\tA share or similar equity interest issued by a corporation, business trust, joint stock company, or similar entity is a security.\nb.\tAn \"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.\nc.\tAn 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.\nd.\tA 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.\ne.\tAn option or similar obligation issued by a clearing corporation to its participants is not a security, but is a financial asset.\nf.\tA commodity contract, as defined in 12A:9-102(a)(15), is not a security or a financial asset.\ng.\tA document of title is not a financial asset unless 12A:8-102(a)(9)(c) applies.\nL.1997, c.252, s.1; amended 2001, c.117, s.17; 2001, c.386, s.133; 2013, c.65, s.47.","path":["TITLE 12A COMMERCIAL TRANSACTIONS"],"source_url":"https://pub.njleg.state.nj.us/statutes/STATUTES-TEXT.zip","current_through":"P.L.2025, c.405, and J.R.22","vintage":"","retrieved_at":"2026-08-27T17:54:13Z","sha256":"82dcc6526b4509fd8b0aa1ad1859831247f7b53d63c67931889dfc9fca9f042f","source_id":"us-nj","stale":true,"prev":"us-nj/n.j.-stat.-12a-8-102","next":"us-nj/n.j.-stat.-12a-8-104"},"notice":"GroundRules: Original legal text. Not legal advice."}