Section 42a-8-103 - Rules for determining whether certain obligations and interests are securities or financial assets(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, in interest in a unit investment trust that is so registered, or 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 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.(d) 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.(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 section 42a-9-102(a)(15), is not a security or a financial asset.(g) A document of title is not a financial asset unless subdivision (10)(iii) of subsection (a) of section 42a-8-102 applies.Conn. Gen. Stat. § 42a-8-103
(1959, P.A. 133, S. 8-103; P.A. 79-435, S. 2; P.A. 97-182, S. 3; P.A. 01-132, S. 146; P.A. 04-64, S. 59.)
See Sec. 42a-8-209 for successor provisions to Sec. 42a-8-103, revised to 1997, re issuer's lien.