NRS 104.8103
Rules for determining whether certain obligations and interests are securities or financial assets.

1.

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

2.

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. The term does not include an insurance policy or endowment policy or annuity contract issued by an insurance company.

3.

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 Article, 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.

4.

A writing that is a security certificate is governed by this Article and not by Article 3, even though it also meets the requirements of that Article. However, a negotiable instrument governed by Article 3 is a financial asset if it is held in a securities account.

5.

An option or similar obligation issued by a clearing corporation to its participants is not a security, but is a financial asset.

6.

A commodity contract, as defined in paragraph (o) of subsection 1 of NRS 104.9102, is not a security or a financial asset.

7.

A document of title is not a financial asset unless subparagraph 3 of paragraph (j) of subsection 1 of NRS 104.8102 applies.

Source: Section 104.8103 — Rules for determining whether certain obligations and interests are securities or financial assets., https://www.­leg.­state.­nv.­us/NRS/NRS-104.­html#NRS104Sec8103.

Last Updated

Jun. 24, 2021

§ 104.8103’s source at nv​.us