§ 47-8101 Short title
§ 47-8102 Definitions
§ 47-8103 Rules for determining whether certain obligations and interests as securities or financial assets
§ 47-8104 Acquisition of security or financial asset or interest therein
§ 47-8105 Notice of adverse claim
§ 47-8106 Control
§ 47-8107 Whether indorsement, instruction or entitlement order is effective
§ 47-8108 Warranties in direct holding
§ 47-8109 Warranties in indirect holding
§ 47-8110 Applicability; choice of law
§ 47-8111 Clearing corporation rules
§ 47-8112 Creditor’s legal process
§ 47-8113 Statute of frauds inapplicable
§ 47-8114 Evidentiary rules concerning certificated securities
§ 47-8115 Securities intermediary and others not liable to adverse claimant
§ 47-8116 Securities intermediary as purchaser for value

Terms Used In Arizona Laws > Title 47 > Chapter 8 > Article 1 - Short Title and General Matters

  • Action: includes any matter or proceeding in a court, civil or criminal. See Arizona Laws 1-215
  • Adverse claim: means a claim that a claimant has a property interest in a financial asset and that it is a violation of the rights of the claimant for another person to hold, transfer or deal with the financial asset. See Arizona Laws 47-8102
  • 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.
  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
  • Broker: means a person defined as a broker or dealer under the federal securities laws, but without excluding a bank acting in that capacity. See Arizona Laws 47-8102
  • Certificated security: means a security that is represented by a certificate. See Arizona Laws 47-8102
  • Clearing corporation: means :

    (a) A person that is registered as a "clearing agency" under the federal securities laws;

    (b) A federal reserve bank; or

    (c) Any other person that provides clearance or settlement services with respect to financial assets that would require it to register as a clearing agency under the federal securities laws but for an exclusion or exemption from the registration requirement, if its activities as a clearing corporation, including promulgation of rules, are subject to regulation by a federal or state governmental authority. See Arizona Laws 47-8102

  • 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.
  • Decedent: A deceased person.
  • Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
  • Entitlement: A Federal program or provision of law that requires payments to any person or unit of government that meets the eligibility criteria established by law. Entitlements constitute a binding obligation on the part of the Federal Government, and eligible recipients have legal recourse if the obligation is not fulfilled. Social Security and veterans' compensation and pensions are examples of entitlement programs.
  • Entitlement holder: means a person identified in the records of a securities intermediary as the person having a security entitlement against the securities intermediary. See Arizona Laws 47-8102
  • Entitlement order: means a notification communicated to a securities intermediary directing transfer or redemption of a financial asset to which the entitlement holder has a security entitlement. See Arizona Laws 47-8102
  • Financial asset: except as otherwise provided in section 47-8103, means:

    (a) A security;

    (b) An obligation of a person or a share, participation or other interest in a person or in property or an enterprise of a person, which is, or is of a type, dealt in or traded on financial markets, or which is recognized in any area in which it is issued or dealt in as a medium for investment; or

    (c) Any property that is held by a securities intermediary for another person in a securities account if the securities intermediary has expressly agreed with the other person that the property is to be treated as a financial asset under this chapter. See Arizona Laws 47-8102

  • Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
  • including: means not limited to and is not a term of exclusion. See Arizona Laws 1-215
  • Indorsement: means a signature that alone or accompanied by other words is made on a security certificate in registered form or on a separate document for the purpose of assigning, transferring or redeeming the security or granting a power to assign, transfer or redeem it. See Arizona Laws 47-8102
  • Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
  • Instruction: means a notification communicated to the issuer of an uncertificated security which directs that the transfer of the security be registered or that the security be redeemed. See Arizona Laws 47-8102
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • 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.
  • Person: includes a corporation, company, partnership, firm, association or society, as well as a natural person. See Arizona Laws 1-215
  • Plaintiff: The person who files the complaint in a civil lawsuit.
  • Pleadings: Written statements of the parties in a civil case of their positions. In the federal courts, the principal pleadings are the complaint and the answer.
  • Process: means a citation, writ or summons issued in the course of judicial proceedings. See Arizona Laws 1-215
  • Property: includes both real and personal property. See Arizona Laws 1-215
  • Securities intermediary: means :

    (a) A clearing corporation; or

    (b) A person, including a bank or broker, that in the ordinary course of its business maintains securities accounts for others and is acting in that capacity. See Arizona Laws 47-8102

  • Security: except as otherwise provided in section 47-8103, means an obligation of an issuer or a share, participation or other interest in an issuer or in property or an enterprise of an issuer:

    (a) Which is represented by a security certificate in bearer or registered form, or the transfer of which may be registered upon books maintained for that purpose by or on behalf of the issuer;

    (b) Which is one of a class or series or by its terms is divisible into a class or series of shares, participations, interests or obligations; and

    (c) Which:

    (i) Is, or is of a type, dealt in or traded on securities exchanges or securities markets; or

    (ii) Is a medium for investment and by its terms expressly provides that it is a security governed by this chapter. See Arizona Laws 47-8102

  • Security certificate: means a certificate representing a security. See Arizona Laws 47-8102
  • Security entitlement: means the rights and property interest of an entitlement holder with respect to a financial asset specified in article 5 of this chapter. See Arizona Laws 47-8102
  • Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
  • Statute: A law passed by a legislature.
  • Uncertificated security: means a security that is not represented by a certificate. See Arizona Laws 47-8102
  • United States: includes the District of Columbia and the territories. See Arizona Laws 1-215
  • Writing: includes printing. See Arizona Laws 1-215