Alaska § 45.08.103 - Rules for determining whether certain obligations and interests are securities or financial assets.
Full text of Alaska Alaska Statutes § 45.08.103 — Rules for determining whether certain obligations and interests are securities or financial assets., with citation guidance and answers to common questions.
§ 45.08.103. 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.
(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 AS 45.03 , even though it also meets the requirements of AS 45.03 . However, a negotiable instrument governed by AS 45.03 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 AS 45.29.102 (a), is not a security or a financial asset.
(g) A document of title is not a financial asset unless AS 45.08.102 (a)(10)(C) applies.
(h) In this section, “investment company security” means a share or similar equity interest issued by an entity that is registered as an investment company under federal investment company laws, an interest in a unit investment trust that is registered as an investment company under federal investment company laws, or a face-amount certificate issued by a face-amount certificate company that is registered as an investment company under federal investment company laws; “investment company security” does not include an insurance policy or endowment policy or annuity contract issued by an insurance company.
Frequently Asked Questions About Alaska § 45.08.103
What does Alaska Statutes § 45.08.103 cover?
Section 45.08.103 ("Rules for determining whether certain obligations and interests are securities or financial assets.") is part of the Alaska Statutes, the codified statutory law of Alaska. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Alaska § 45.08.103?
A common citation format is "Alaska Statutes § 45.08.103" (Alaska). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Alaska law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Alaska official source linked on this page or consult a licensed Alaska attorney.
How does Alaska § 45.08.103 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Alaska can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Alaska.