Go to Previous Versions of this Section
  1. 2024 Arkansas Code (here)
  2. 2023 Arkansas Code
  3. 2020 Arkansas Code
  4. View All Versions

Arkansas Code of 1987 (2024)
Title 4 - BUSINESS AND COMMERCIAL LAW (§§ 4-1-101 — 4-119-105)
Subtitle 1 - UNIFORM COMMERCIAL CODE (§§ 4-1-101 — 4-11-106)
Chapter 8 - INVESTMENT SECURITIES (§§ 4-8-101 — 4-8-603)
Part 1 - SHORT TITLE AND GENERAL MATTERS (§§ 4-8-101 — 4-8-116)
Section 4-8-103 - Rules for determining whether certain obligations and interests are securities or financial assets

Universal Citation:
AR Code § 4-8-103 (2024)
Learn more This media-neutral citation is based on the American Association of Law Libraries Universal Citation Guide and is not necessarily the official citation.
Previous Next

  • (a) A share or similar equity interest issued by a corporation, business trust, joint stock company, or similar entity is a security.
  • (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.
  • (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 Chapter 3, even though it also meets the requirements of that chapter. However, a negotiable instrument governed by Chapter 3 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 § 4-9-102(a)(15), is not a security or a financial asset.
  • (g) A document of title is not a financial asset unless § 4-8-102(a)(9)(iii) applies.

Acts 1995, No. 425, § 1; 2001, No. 1439, § 16; 2007, No. 342, § 25.

Previous Next
Disclaimer: These codes may not be the most recent version. Arkansas may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.