{"data":{"id":"us-ok/okla.-stat.-tit.-12a-12a-8-103","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 12A, § 12A-8-103","heading":"Rules for determining whether certain obligations and","body":"interests are securities or financial assets.\n\nRules for Determining Whether Certain Obligations and Interests\n\nAre Securities or Financial Assets.\n\n(a) A share or similar equity interest issued by a corporation,\n\nbusiness trust, joint stock company, or similar entity is a\n\nsecurity.\n\n(b) An \"investment company security\" is a security.\n\n\"Investment company security\" means a share or similar equity\n\ninterest issued by an entity that is registered as an investment\n\ncompany under the federal investment company laws, an interest in a\n\nunit investment trust that is so registered, or a face-amount\n\ncertificate issued by a face-amount certificate company that is so\n\nregistered. Investment company security does not include an\n\ninsurance policy or endowment policy or annuity contract issued by\n\nan insurance company.\n\n(c) An interest in a partnership or limited liability company\n\nis not a security unless it is dealt in or traded on securities\n\nexchanges or in securities markets, its terms expressly provide that\n\nit is a security governed by this article, or it is an investment\n\ncompany security. However, an interest in a partnership or limited\n\nliability company is a financial asset if it is held in a securities\n\naccount.\n\n(d) A writing that is a security certificate is governed by\n\nthis article and not by Article 3 of this code, even though it also\n\nmeets the requirements of that article. However, a negotiable\n\ninstrument governed by Article 3 of this code is a financial asset\n\nif it is held in a securities account.\n\n(e) An option or similar obligation issued by a clearing\n\ncorporation to its participants is not a security, but is a\n\nfinancial asset.\n\n(f) A commodity contract, as defined in paragraph (15) of\n\nsubsection (a) of Section 1-9-102 of this title, is not a security\n\nor a financial asset.\n\n(g) A document of title is not a financial asset unless\n\nsubparagraph (iii) of paragraph (9) of subsection (a) of Section 8-\n\n102 of this title applies.\n\n(h) A controllable account, controllable electronic record, or\n\ncontrollable payment intangible is not a financial asset unless\n\nsubparagraph (iii) of paragraph 9 of subsection (a) of Section 8-102\n\nof this title applies.","path":["OK Code","Title 12A"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os12A.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"a71926ce091996833dbed5a671c18991d013068386972959ae4ffc16af1ee6c7","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-12a-12a-8-102","next":"us-ok/okla.-stat.-tit.-12a-12a-8-104"},"notice":"GroundRules: Original legal text. Not legal advice."}