Miss. Code Ann. § 75-8-102 (2026)

• (a) In this chapter:
  • (1) "Adverse claim" means a claim that a claimant has a property interest in a financial asset and that it is a violation of the rights of the claimant for another person to hold, transfer, or deal with the financial asset.
  • (2) "Bearer form," as applied to a certificated security, means a form in which the security is payable to the bearer of the security certificate according to its terms but not by reason of an indorsement.
  • (3) "Broker" means a person defined as a broker or dealer under the federal securities laws, but without excluding a bank acting in that capacity.
  • (4) "Certificated security" means a security that is represented by a certificate.
  • (5) "Clearing corporation" means:
    • (i) A person that is registered as a "clearing agency" under the federal securities laws;
    • (ii) A federal reserve bank; or
    • (iii) Any other person that provides clearance or settlement services with respect to financial assets that would require it to register as a clearing agency under the federal securities laws but for an exclusion or exemption from the registration requirement, if its activities as a clearing corporation, including promulgation of rules, are subject to regulation by a federal or state governmental authority.
  • (6) "Communicate" means to:
    • (i) Send a signed writing; or
    • (ii) Transmit information by any mechanism agreed upon by the persons transmitting and receiving the information.
  • (7) "Entitlement holder" means a person identified in the records of a securities intermediary as the person having a security entitlement against the securities intermediary. If a person acquires a security entitlement by virtue of Section 75-8-501(b)(2) or (3), that person is the entitlement holder.
  • (8) "Entitlement order" means a notification communicated to a securities intermediary directing transfer or redemption of a financial asset to which the entitlement holder has a security entitlement.
  • (9) "Financial asset," except as otherwise provided in Section 75-8-103, means:
    • (i) A security;
    • (ii) An obligation of a person or a share, participation, or other interest in a person or in property or an enterprise of a person, which is, or is of a type, dealt in or traded on financial markets, or which is recognized in any area in which it is issued or dealt in as a medium for investment; or
    • (iii) Any property that is held by a securities intermediary for another person in a securities account if the securities intermediary has expressly agreed with the other person that the property is to be treated as a financial asset under this chapter. As context requires, the term means either the interest itself or the means by which a person's claim to it is evidenced, including a certificated or uncertificated security, a security certificate, or a security entitlement.
  • (10) [Reserved]
  • (11) "Indorsement" means a signature that alone or accompanied by other words is made on a security certificate in registered form or on a separate document for the purpose of assigning, transferring, or redeeming the security or granting a power to assign, transfer, or redeem it.
  • (12) "Instruction" means a notification communicated to the issuer of an uncertificated security which directs that the transfer of the security be registered or that the security be redeemed.
  • (13) "Registered form," as applied to a certificated security, means a form in which:
    • (i) The security certificate specifies a person entitled to the security; and
    • (ii) 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.
  • (14) "Securities intermediary" means:
    • (i) A clearing corporation; or
    • (ii) 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.
  • (15) "Security," except as otherwise provided in Section 75-8-103, 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:
    • (i) 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;
    • (ii) 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
    • (iii) Which:
      • (A) Is, or is of a type, dealt in or traded on securities exchanges or securities markets; or
      • (B) Is a medium for investment and by its terms expressly provides that it is a security governed by this chapter.
  • (16) "Security certificate" means a certificate representing a security.
  • (17) "Security entitlement" means the rights and property interest of an entitlement holder with respect to a financial asset specified in Part 5 of this chapter.
  • (18) "Uncertificated security" means a security that is not represented by a certificate.

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

  Appropriate person Section 75-8-107

  Control Section 75-8-106

  Delivery Section 75-8-301

  Investment company security Section 75-8-103

  Issuer Section 75-8-201

  Overissue Section 75-8-210

  Protected purchaser Section 75-8-303

  Securities account Section 75-8-501

• (c) In addition, Chapter 1 contains general definitions and principles of construction and interpretation applicable throughout this chapter.

• (d) 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.

Laws, 1996, ch. 468, § 3; Laws, 2010, ch. 506, § 39, eff. 7/1/2010.