“Security” defined. “Security” means a share, participation or other interest in property, in a business or in an obligation of an enterprise or other issuer. The term includes a certificated security, an uncertificated security and a securities account. As used in this section, “securities account” means:
1. 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 a securities account, a reinvestment account or a brokerage account, whether or not credited to the account before the owner’s death; or
2. A cash balance or other property held for or due to the owner of a security as a replacement for or product of a security held in a securities account, whether or not credited to the account before the owner’s death.
Last modified: February 27, 2006