408.102(1)(m) (m) “Registered form”, as applied to a certificated security, means a form in which:

408.102(1)(m)1. 1. The security certificate specifies a person entitled to the security; and

408.102(1)(m)2. 2. A transfer of the security may be registered upon books maintained for that purpose by or on behalf of the issuer, or the security certificate so states.

408.102(1)(n) (n) “Securities intermediary” means:

408.102(1)(n)1. 1. A clearing corporation; or

408.102(1)(n)2. 2. A person, including a bank or broker, that in the ordinary course of its business maintains securities accounts for others and is acting in that capacity.

408.102(1)(o) (o) “Security”, except as otherwise provided in s. 408.103, means an obligation of an issuer or a share, participation or other interest in an issuer or in property or an enterprise of an issuer:

408.102(1)(o)1. 1. Which is represented by a security certificate in bearer or registered form, or the transfer of which may be registered upon books maintained for that purpose by or on behalf of the issuer;

408.102(1)(o)2. 2. Which is one of a class or series or by its terms is divisible into a class or series of shares, participations, interests or obligations; and

408.102(1)(o)3. 3. Which:

408.102(1)(o)3.a. a. Is, or is of a type, dealt in or traded on securities exchanges or securities markets; or

408.102(1)(o)3.b. b. Is a medium for investment and by its terms expressly provides that it is a security governed by this chapter.

408.102(1)(p) (p) “Security certificate” means a certificate representing a security.

408.102(1)(q) (q) “Security entitlement” means the rights and property interest of an entitlement holder with respect to a financial asset specified in subch. V.

408.102(1)(r) (r) “Uncertificated security” means a security that is not represented by a certificate.

408.102(2) (2) Other definitions applying to this chapter and the sections in which they appear are:

408.102(2)(a) (a) “Appropriate person” — s. 408.107 (1).

408.102(2)(b) (b) “Control” — s. 408.106.

408.102(2)(c) (c) “Delivery” — s. 408.301.

408.102(2)(d) (d) “Investment company security” — s. 408.103 (2).

408.102(2)(e) (e) “Issuer” — s. 408.201.

408.102(2)(f) (f) “Overissue” — s. 408.210 (1).

408.102(2)(g) (g) “Protected purchaser” — s. 408.303 (1).

408.102(2)(h) (h) “Securities account” — s. 408.501 (1).

408.102(3) (3) In addition, ch. 401 contains general definitions and principles of construction and interpretation applicable throughout this chapter.

408.102(4) (4) The characterization of a person, business or transaction for purposes of this chapter does not determine the characterization of the person, business or transaction for purposes of any other law, regulation or rule.

408.102 History History: 1997 a. 297.

408.103 408.103 Rules for determining whether certain obligations and interests are securities or financial assets.

408.103(1) (1) A share or similar equity interest issued by a corporation, business trust, joint stock company or similar entity is a security.