(a) A share or similar equity interest issued by a corporation, business trust, joint stock company, or similar entity is a security.

Terms Used In Alaska Statutes 45.08.103

  • Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
  • Contract: A legal written agreement that becomes binding when signed.
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • 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.
  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
  • writing: includes printing. See Alaska Statutes 01.10.060
(b) An investment company security is a security.
(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.
(d) A writing that is a security certificate is governed by this chapter and not by Alaska Stat. Chapter 45.03, even though it also meets the requirements of Alaska Stat. Chapter 45.03. However, a negotiable instrument governed by Alaska Stat. Chapter 45.03 is a financial asset if it is held in a securities account.
(e) An option or similar obligation issued by a clearing corporation to its participants is not a security but is a financial asset.
(f) A commodity contract, as defined in Alaska Stat. § 45.29.102(a), is not a security or a financial asset.
(g) A document of title is not a financial asset unless Alaska Stat. § 45.08.102(a)(10)(C) applies.
(h) In this section, “investment company security” means a share or similar equity interest issued by an entity that is registered as an investment company under federal investment company laws, an interest in a unit investment trust that is registered as an investment company under federal investment company laws, or a face-amount certificate issued by a face-amount certificate company that is registered as an investment company under federal investment company laws; “investment company security” does not include an insurance policy or endowment policy or annuity contract issued by an insurance company.
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