{"data":{"id":"us-ri/r.i.-gen.-laws-6a-8-103","jurisdiction":"us-ri","citation":"R.I. Gen. Laws § 6A-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 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(d) A writing that is a security certificate is governed by this chapter and not by chapter 3 of this title, even though it also meets the requirements of that chapter. However, a negotiable instrument governed by chapter 3 of this title 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 § 6A-9-102(a)(15), is not a security or a financial asset.\n(g) A document of title is not a financial asset unless subsection 6A-8-102(a)(9)(iii) applies.\n(h) A controllable account, controllable electronic record, or controllable payment intangible is not a financial asset unless § 6A-8-102(a)(9)(iii) applies.","path":["Title 6A Uniform Commercial Code","Chapter 8 Investment Securities","Part 1 Short Title and General Matters"],"source_url":"https://webserver.rilegislature.gov/Statutes/TITLE6A/6A-8/6A-1/6A-8-103.htm","current_through":"site files published 2025-08-13","vintage":"","retrieved_at":"2026-09-05T18:19:59Z","sha256":"1607d8f8b88a67b8e6efcdeec64c6e0db65df84773ba5bee522020dcfae44702","source_id":"us-ri","stale":true,"prev":"us-ri/r.i.-gen.-laws-6a-8-102","next":"us-ri/r.i.-gen.-laws-6a-8-104"},"notice":"GroundRules: Original legal text. Not legal advice."}