{"data":{"id":"us-ut/utah-code-70a-8-102","jurisdiction":"us-ut","citation":"Utah Code § 70A-8-102","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, Uniform Commercial Code - Negotiable Instruments, even though it also meets the requirements of that chapter. However, a negotiable instrument governed by Chapter 3, Uniform Commercial Code - Negotiable Instruments, 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 Section 70A-9a-102, is not a security or a financial asset.\n(7) A document of title is not a financial asset unless Subsection 70A-8-101(1)(i)(i)(C) applies.\n(8) A controllable account, controllable electronic record, or controllable payment intangible is not a financial asset unless Subsection 70A-8-101(1)(i)(i)(C) applies.","path":["Title 70A Uniform Commercial Code","Chapter 70A-8 Uniform Commercial Code - Investment Securities","Part 70A-8-1 Short Title and General Matters"],"source_url":"https://le.utah.gov/xcode/Title70A/Chapter8/70A-8-S102.html","current_through":"2026 General Session","vintage":"","retrieved_at":"2026-09-03T11:34:34Z","sha256":"ac8496b9271cbf51ba0f03e5735cc296b352a973b409164ea3b68dad07bc3414","source_id":"us-ut","stale":false,"prev":"us-ut/utah-code-70a-8-101","next":"us-ut/utah-code-70a-8-103"},"notice":"GroundRules: Original legal text. Not legal advice."}