Section 34.1-8-102 - Definitions(a) In this article: (i) "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;(ii) "Bearer form," as applied to a certificated security, means a form in which the security is payable to the bearer of the security certificate according to its terms but not by reason of an indorsement;(iii) "Broker" means a person defined as a broker or dealer under the federal securities laws, but without excluding a bank acting in that capacity;(iv) "Certificated security" means a security that is represented by a certificate;(v) "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.(vi) "Communicate" means to: (A) Send a signed writing; or(B) Transmit information by any mechanism agreed upon by the persons transmitting and receiving the information.(vii) "Entitlement holder" means a person identified in the records of a securities intermediary as the person having a security entitlement against the securities intermediary. If a person acquires a security entitlement by virtue of W.S. 34.1-8-501(b)(ii) or (iii), that person is the entitlement holder;(viii) "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;(ix) "Financial asset," except as otherwise provided in W.S. 34.1-8-103, means: (2) 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(3) 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 article. As context requires, the term means either the interest itself or the means by which a person's claim to it is evidenced, including a certificated or uncertificated security, a security certificate, or a security entitlement;(xi) "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;(xii) "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;(xiii) "Registered form," as applied to a certificated security, means a form in which: (A) The security certificate specifies a person entitled to the security; and(B) A transfer of the security may be registered upon books maintained for that purpose by or on behalf of the issuer, or the security certificate so states.(xiv) "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.(xv) "Security," except as otherwise provided in W.S. 34.1-8-103, 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 article.(xvi) "Security certificate" means a certificate representing a security;(xvii) "Security entitlement" means the rights and property interest of an entitlement holder with respect to a financial asset specified in Part 5;(xviii) "Uncertificated security" means a security that is not represented by a certificate.(b) Other definitions applying to this article and the sections in which they appear are: Appropriate person | W.S. 34.1-8-107 |
Control | W.S. 34.1-8-106 |
Delivery | W.S. 34.1-8-301 |
Investment company security | W.S. 34.1-8-103 |
Issuer | W.S. 34.1-8-201 |
Overissue | W.S. 34.1-8-210 |
Protected purchaser | W.S. 34.1-8-303 |
Securities account | W.S. 34.1-8-501 |
(c) In addition, article 1 contains general definitions and principles of construction and interpretation applicable throughout this article.(d) The characterization of a person, business, or transaction for purposes of this article does not determine the characterization of the person, business, or transaction for purposes of any other law, regulation, or rule.Amended by Laws 2015 , ch. 124, § 2, eff. 7/1/2015.