{"data":{"id":"us-tn/tenn.-code-ann.-47-8-103","jurisdiction":"us-tn","citation":"Tenn. Code Ann. § 47-8-103","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 § 47-9-102(a)(15) , is not a security or a financial asset.\n(g) A document of title is not a financial asset unless § 47-8-102(a)(9)(iii) applies.","path":["TN Code","Title 47","Chapter 8"],"source_url":"https://oss-data-us.vaquill.ai/v2026.08/us_tn_statutes.parquet","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:26Z","sha256":"fad15c352764dbf98dbf8952b195269939bb15fa1e088ffff3ccccdf509a2696","source_id":"us-tn","stale":false,"prev":"us-tn/tenn.-code-ann.-47-8-102","next":"us-tn/tenn.-code-ann.-47-8-104"},"notice":"GroundRules: Original legal text. Not legal advice."}