The following words and terms, when used in this chapter, have the following meanings, unless the context clearly indicates otherwise:
Financial interest-
(i) An ownership, property, leasehold or other beneficial interest in an entity.(ii) The term does not include an interest which is held or deemed to be held in any of the following: (A) Securities that are held in a pension plan, profit-sharing plan, individual retirement account, tax sheltered annuity, a plan established pursuant to section 457 of the Internal Revenue Code of 1986 (26 U.S.C.A. § 457), or any successor provision, deferred compensation plan whether qualified or not qualified under the Internal Revenue Code of 1986, or any successor provision, or other retirement plan that: (I) Is not self-directed by the individual.(II) Is advised by an independent investment adviser who has sole authority to make investment decisions with respect to contributions made by the individual to these plans.(B) A tuition account plan organized and operated under section 529 of the Internal Revenue Code of 1986 (26 U.S.C.A. § 529) that is not self-directed by the individual.(C) A mutual fund where the interest owned by the mutual fund in a licensed entity does not constitute a controlling interest as defined in this part.Ownership interest-Owning or holding or being deemed to hold, debt or equity securities or other ownership interest or profit interest.