Oklahoma § 71-902 - Definitions

§ 71-902. Definitions

As used in the Oklahoma Uniform TOD Security Registration Act,

unless the context otherwise requires:

1. "Beneficiary form" means a registration of a security which

indicates the present owner of the security and the intention of the

owner regarding the person who will become the owner of the security

upon the death of the owner;

2. "Devisee" means any person designated in a will to receive a

disposition of real or personal property;

3. "Heirs" means those persons, including the surviving spouse,

who are entitled under the statutes of intestate succession to the

property of a decedent;

4. "Person" means an individual, a corporation, a limited

liability company, an organization, or other legal entity;

5. "Personal representative" includes executor, administrator,

successor personal representative, special administrator, and

persons who perform substantially the same function under the law

governing their status;

6. "Property" includes both real and personal property or any

interest therein and means anything that may be the subject of

ownership;

7. "Register", including its derivatives, means:

a.

to issue a certificate showing the ownership of a

certificated security,

b.

in the case of an uncertificated security, to initiate

or transfer an account showing ownership of

securities, or

c.

in the case of a certificated or uncertificated

security titled in the name of a registering entity or

its nominee on behalf of one or more beneficial

owners, to initiate or transfer an account showing

beneficial ownership of securities;

8. "Registering entity" means a person who originates or

transfers a security title by registration, and includes a broker or

Oklahoma Statutes - Title 71. Securities

a bank maintaining security accounts for customers and a transfer

agent or other person acting for or as an issuer of securities;

9. "Security" means a share, participation, or other interest

in property, in a business, or in an obligation of an enterprise or

other issuer, and includes a certificated security, an

uncertificated security, and a security account;

10. "Security account" means:

a.

a reinvestment account associated with a security, a

securities account with a broker or a bank, a cash

balance in a brokerage account, cash, interest,

earnings, or dividends earned or declared on a

security in an account, a reinvestment account, or a

brokerage account, whether or not credited to the

account before the owner's death, or

b.

a cash balance or other property held for or due to

the owner of a security as a replacement for or

product of an account security, whether or not

credited to the account before the owner's death; and

11. "State" includes any state of the United States, the

District of Columbia, the Commonwealth of Puerto Rico, and any

territory or possession subject to the legislative authority of the

United States.

Added by Laws 1994, c. 208, § 2, eff. Sept. 1, 1994. Amended by

Laws 1994, c. 313, § 8, eff. Sept. 1, 1994.