{"data":{"id":"us-wv/w.-va.-code-46-8-103","jurisdiction":"us-wv","citation":"W. Va. Code § 46-8-103","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 article 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 article and not by article three of this chapter, even though it also meets the requirements of that article. However, a negotiable instrument governed by article three 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 section 9-102(a)(15), is not a security or a financial asset.\n(g) A document of title is not a financial asset unless section 8-102(a)(9)(iii) applies.","path":["CHAPTER 46. UNIFORM COMMERCIAL CODE.","ARTICLE 8. INVESTMENT SECURITIES."],"source_url":"https://code.wvlegislature.gov/46-8-103/","current_through":"as of 2026-08-03; contains at least the enactments of the 2026 Regular Session","vintage":"","retrieved_at":"2026-09-06T00:29:52Z","sha256":"0d3ea5f2d169e2566f0a14793d2b096724847b282a4421dcbfc2dae8212b3c9a","source_id":"us-wv","stale":true,"prev":"us-wv/w.-va.-code-46-8-102","next":"us-wv/w.-va.-code-46-8-104"},"notice":"GroundRules: Original legal text. Not legal advice."}