14-6301

14-6301. Definitions

In this article, unless the context otherwise requires:

1. "Beneficiary form" means a registration of a security that indicates the present
owner of the security and the intention of the owner regarding the person who will become
the owner of the security on the owner's death.

2. "Register" means to issue a certificate that shows the ownership of a
certificated security or, in the case of an uncertificated security, to initiate or
transfer an account that shows ownership of securities.

3. "Registering entity" means a person who originates or transfers a security title
by registration and includes a broker who maintains security accounts for customers and a
transfer agent or other person who acts for or as an issuer of securities.

4. "Security" means any 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.

5. "Security account" means:

(a) A reinvestment account associated with a security, a securities account with a
broker, 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.

(b) A cash balance or any 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.

(c) An investment management or custody account with a trust company or a trust
division of a bank with trust powers, and includes the securities in the account, a cash
balance in the account, cash, cash equivalents, interest and earnings or dividends earned
or declared on a security in the account, whether or not credited to the account before
the owner's death.