# ORS § 78.1030: 78.1030 Rules for determining whether certain obligations and interests are securities or financial assets

> Oregon · Statutes · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_OR_T8_C78_S78.1030

## Section

- **Citation:** ORS § 78.1030
- **Heading:** 78.1030 Rules for determining whether certain obligations and interests are securities or financial assets
- **Jurisdiction:** Oregon
- **Kind:** Statutes
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** OR Code / Title 8 / Chapter 78 / Section 78.1030

## Text

(1) A share or similar equity interest issued by a corporation, business trust, joint stock company or similar entity is a security.

(2) 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, endowment policy or annuity contract issued by an insurance company.

(3) 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.

(4) A writing that is a security certificate is governed by this chapter and not by ORS chapter 73, even though it also meets the requirements of that chapter. However, a negotiable instrument governed by ORS chapter 73 is a financial asset if it is held in a securities account.

(5) An option or similar obligation issued by a clearing corporation to its participants is not a security, but is a financial asset.

(6) A commodity contract, as defined in ORS 79.0102 (UCC 9-102. Definitions and index of definitions) , is not a security or a financial asset.

(7) A document of title is not a financial asset unless ORS 78.1020 (Definitions and index of definitions) (1)(i)(A)(iii) applies. [1961 c.726 § 78.1030 (Rules for determining whether certain obligations and interests are securities or financial assets) ; 1985 c.676 § 78.1030 (Rules for determining whether certain obligations and interests are securities or financial assets) ; 1995 c.328 §3; 2001 c.445 §151; 2009 c.181 §90]

Source: Section 78.1030 — Rules for determining whether certain obligations and interests are securities or financial assets , https://www.­oregonlegislature.­gov/bills_laws/ors/ors078.­html (accessed May 26, 2025).

## Nearby sections

- [ORS § 78.1010 78.1010 Short title](https://www.frixlaw.com/law-library/statutes/STATE_OR_T8_C78_S78.1010.md)
- [ORS § 78.1020 78.1020 Definitions and index of definitions](https://www.frixlaw.com/law-library/statutes/STATE_OR_T8_C78_S78.1020.md)
- [ORS § 78.1030 78.1030 Rules for determining whether certain obligations and interests are securities or financial assets](https://www.frixlaw.com/law-library/statutes/STATE_OR_T8_C78_S78.1030.md)
- [ORS § 78.1040 78.1040 Acquisition of security or financial asset or interest therein](https://www.frixlaw.com/law-library/statutes/STATE_OR_T8_C78_S78.1040.md)
- [ORS § 78.1050 78.1050 Notice of adverse claim](https://www.frixlaw.com/law-library/statutes/STATE_OR_T8_C78_S78.1050.md)
- [ORS § 78.1060 78.1060 Control](https://www.frixlaw.com/law-library/statutes/STATE_OR_T8_C78_S78.1060.md)
- [ORS § 78.1070 78.1070 Whether indorsement, instruction or entitlement order is effective](https://www.frixlaw.com/law-library/statutes/STATE_OR_T8_C78_S78.1070.md)
- [ORS § 78.1080 78.1080 Warranties in direct holding](https://www.frixlaw.com/law-library/statutes/STATE_OR_T8_C78_S78.1080.md)
- [ORS § 78.1090 78.1090 Warranties in indirect holding](https://www.frixlaw.com/law-library/statutes/STATE_OR_T8_C78_S78.1090.md)
- [ORS § 78.1100 78.1100 Applicability](https://www.frixlaw.com/law-library/statutes/STATE_OR_T8_C78_S78.1100.md)
- [ORS § 78.1110 78.1110 Clearing corporation rules](https://www.frixlaw.com/law-library/statutes/STATE_OR_T8_C78_S78.1110.md)
- [ORS § 78.1120 78.1120 Creditor’s legal process](https://www.frixlaw.com/law-library/statutes/STATE_OR_T8_C78_S78.1120.md)
- [ORS § 78.1130 78.1130 Statute of frauds inapplicable](https://www.frixlaw.com/law-library/statutes/STATE_OR_T8_C78_S78.1130.md)
- [ORS § 78.1140 78.1140 Evidentiary rules concerning certificated securities](https://www.frixlaw.com/law-library/statutes/STATE_OR_T8_C78_S78.1140.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_OR_T8_C78_S78.1030. Check the current official text before relying on it. Not legal advice.