# K.S.A. § 84-8-103: 84-8-103 - Rules for determining whether certain obligations and interests are securities or financial assets

> Kansas · Statutes · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_KS_C84_A8_S84-8-103

## Section

- **Citation:** K.S.A. § 84-8-103
- **Heading:** 84-8-103 - Rules for determining whether certain obligations and interests are securities or financial assets
- **Jurisdiction:** Kansas
- **Kind:** Statutes
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** KS Code / Chapter 84 / Article 8 / Section 84-8-103

## Text

84-8-103. 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, an interest in a unit investment trust that is so registered, or a 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 K.S.A. 2025 Supp. 84-9-102(a)(15), and amendments thereto, is not a security or a financial asset.

(g) A document of title is not a financial asset unless K.S.A. 84-8-102(a)(9)(iii), and amendments thereto, applies.

## Nearby sections

- [K.S.A. § 84-8-101 84-8-101 - Short title.](https://www.frixlaw.com/law-library/statutes/STATE_KS_C84_A8_S84-8-101.md)
- [K.S.A. § 84-8-102 84-8-102 - Definitions.](https://www.frixlaw.com/law-library/statutes/STATE_KS_C84_A8_S84-8-102.md)
- [K.S.A. § 84-8-103 84-8-103 - Rules for determining whether certain obligations and interests are securities or financial assets.](https://www.frixlaw.com/law-library/statutes/STATE_KS_C84_A8_S84-8-103.md)
- [K.S.A. § 84-8-104 84-8-104 - Acquisition of security or financial asset or interest therein.](https://www.frixlaw.com/law-library/statutes/STATE_KS_C84_A8_S84-8-104.md)
- [K.S.A. § 84-8-105 84-8-105 - Notice of adverse claim.](https://www.frixlaw.com/law-library/statutes/STATE_KS_C84_A8_S84-8-105.md)
- [K.S.A. § 84-8-106 84-8-106 - Control.](https://www.frixlaw.com/law-library/statutes/STATE_KS_C84_A8_S84-8-106.md)
- [K.S.A. § 84-8-107 84-8-107 - Whether indorsement, instruction or entitlement order is effective.](https://www.frixlaw.com/law-library/statutes/STATE_KS_C84_A8_S84-8-107.md)
- [K.S.A. § 84-8-108 84-8-108 - Warranties in direct holding.](https://www.frixlaw.com/law-library/statutes/STATE_KS_C84_A8_S84-8-108.md)
- [K.S.A. § 84-8-109 84-8-109 - Warranties in indirect holding.](https://www.frixlaw.com/law-library/statutes/STATE_KS_C84_A8_S84-8-109.md)
- [K.S.A. § 84-8-110 84-8-110 - Applicability; choice of law.](https://www.frixlaw.com/law-library/statutes/STATE_KS_C84_A8_S84-8-110.md)
- [K.S.A. § 84-8-111 84-8-111 - Clearing corporation rules.](https://www.frixlaw.com/law-library/statutes/STATE_KS_C84_A8_S84-8-111.md)
- [K.S.A. § 84-8-112 84-8-112 - Creditor's legal process.](https://www.frixlaw.com/law-library/statutes/STATE_KS_C84_A8_S84-8-112.md)
- [K.S.A. § 84-8-113 84-8-113 - Statute of frauds inapplicable.](https://www.frixlaw.com/law-library/statutes/STATE_KS_C84_A8_S84-8-113.md)
- [K.S.A. § 84-8-114 84-8-114 - Evidentiary rules concerning certificated securities.](https://www.frixlaw.com/law-library/statutes/STATE_KS_C84_A8_S84-8-114.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_KS_C84_A8_S84-8-103. Check the current official text before relying on it. Not legal advice.