Arizona Laws 14-6301. Definitions
In this article, unless the context otherwise requires:
Terms Used In Arizona Laws 14-6301
- Agent: includes an attorney-in-fact under a durable or nondurable power of attorney, a person who is authorized to make decisions concerning another person's health care and a person who is authorized to make decisions for another person under a natural death act. See Arizona Laws 14-1201
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- Person: means an individual or an organization. See Arizona Laws 14-1201
- Property: includes both real and personal property. See Arizona Laws 1-215
- Security: means any share, participation or other interest in property, in a business or in an obligation of an enterprise or other issuer and includes a certificated security, an uncertificated security and a security account. See Arizona Laws 14-6301
- Security account: means :
(a) A reinvestment account associated with a security, a securities account with a broker, a cash balance in a brokerage account, cash, interest, earnings or dividends earned or declared on a security in an account, a reinvestment account or a brokerage account, whether or not credited to the account before the owner's death. See Arizona Laws 14-6301
- Trust: includes an express trust, private or charitable, with any additions, wherever and however created. See Arizona Laws 14-1201
- Will: includes a codicil and any testamentary instrument that merely appoints an executor, revokes or revises another will, nominates a guardian or expressly excludes or limits the right of an individual or class to succeed to property of the decedent passing by intestate succession. See Arizona Laws 14-1201
1. "Beneficiary form" means a registration of a security that indicates the present owner of the security and the intention of the owner regarding the person who will become the owner of the security on the owner’s death.
2. "Register" means to issue a certificate that shows the ownership of a certificated security or, in the case of an uncertificated security, to initiate or transfer an account that shows ownership of securities.
3. "Registering entity" means a person who originates or transfers a security title by registration and includes a broker who maintains security accounts for customers and a transfer agent or other person who acts for or as an issuer of securities.
4. "Security" means any share, participation or other interest in property, in a business or in an obligation of an enterprise or other issuer and includes a certificated security, an uncertificated security and a security account.
5. "Security account" means:
(a) A reinvestment account associated with a security, a securities account with a broker, a cash balance in a brokerage account, cash, interest, earnings or dividends earned or declared on a security in an account, a reinvestment account or a brokerage account, whether or not credited to the account before the owner’s death.
(b) A cash balance or any other property held for or due to the owner of a security as a replacement for or product of an account security, whether or not credited to the account before the owner’s death.
(c) An investment management or custody account with a trust company or a trust division of a bank with trust powers, and includes the securities in the account, a cash balance in the account, cash, cash equivalents, interest and earnings or dividends earned or declared on a security in the account, whether or not credited to the account before the owner’s death.