# RCW 62A.8-103: RCW 62A.8-103: Rules for determining whether certain obligations and interests are securities or financial assets

> Washington · Statutes · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_WA_T62A_C8_S8-103

## Section

- **Citation:** RCW 62A.8-103
- **Heading:** RCW 62A.8-103: Rules for determining whether certain obligations and interests are securities or financial assets
- **Jurisdiction:** Washington
- **Kind:** Statutes
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** Washington Code / Title 62A / Chapter 8 / Section 8-103

## 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 or 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 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. (4) 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. (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 RCW 62A.9A-102 , is not a security or a financial asset. (7) A document of title is not a financial asset unless RCW 62A.8-102 (1)(i)(iii) applies. (8) A controllable account, controllable electronic record, or controllable payment intangible is not a financial asset unless RCW 62A.8-102 (1)(i)(iii) applies.

## Nearby sections

- [RCW 62A.8-101 RCW 62A.8-101: Short title.](https://www.frixlaw.com/law-library/statutes/STATE_WA_T62A_C8_S8-101.md)
- [RCW 62A.8-102 RCW 62A.8-102: Definitions.](https://www.frixlaw.com/law-library/statutes/STATE_WA_T62A_C8_S8-102.md)
- [RCW 62A.8-103 RCW 62A.8-103: Rules for determining whether certain obligations and interests are securities or financial assets.](https://www.frixlaw.com/law-library/statutes/STATE_WA_T62A_C8_S8-103.md)
- [RCW 62A.8-104 RCW 62A.8-104: Acquisition of security or financial asset or interest therein.](https://www.frixlaw.com/law-library/statutes/STATE_WA_T62A_C8_S8-104.md)
- [RCW 62A.8-105 RCW 62A.8-105: Notice of adverse claim.](https://www.frixlaw.com/law-library/statutes/STATE_WA_T62A_C8_S8-105.md)
- [RCW 62A.8-106 RCW 62A.8-106: Control.](https://www.frixlaw.com/law-library/statutes/STATE_WA_T62A_C8_S8-106.md)
- [RCW 62A.8-107 RCW 62A.8-107: Whether indorsement, instruction, or entitlement is effective.](https://www.frixlaw.com/law-library/statutes/STATE_WA_T62A_C8_S8-107.md)
- [RCW 62A.8-108 RCW 62A.8-108: Warranties in direct holding.](https://www.frixlaw.com/law-library/statutes/STATE_WA_T62A_C8_S8-108.md)
- [RCW 62A.8-109 RCW 62A.8-109: Warranties in indirect holding.](https://www.frixlaw.com/law-library/statutes/STATE_WA_T62A_C8_S8-109.md)
- [RCW 62A.8-110 RCW 62A.8-110: Applicability; choice of law.](https://www.frixlaw.com/law-library/statutes/STATE_WA_T62A_C8_S8-110.md)
- [RCW 62A.8-111 RCW 62A.8-111: Clearing corporation rules.](https://www.frixlaw.com/law-library/statutes/STATE_WA_T62A_C8_S8-111.md)
- [RCW 62A.8-112 RCW 62A.8-112: Creditor's legal process.](https://www.frixlaw.com/law-library/statutes/STATE_WA_T62A_C8_S8-112.md)
- [RCW 62A.8-113 RCW 62A.8-113: Statute of frauds inapplicable.](https://www.frixlaw.com/law-library/statutes/STATE_WA_T62A_C8_S8-113.md)
- [RCW 62A.8-114 RCW 62A.8-114: Evidentiary rules concerning certificated securities.](https://www.frixlaw.com/law-library/statutes/STATE_WA_T62A_C8_S8-114.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_WA_T62A_C8_S8-103. Check the current official text before relying on it. Not legal advice.