In this part 3:
"Beneficiary form" means a registration of a security which indicates the present owner ofthe security and the intention of the owner regarding the person who will become the owner of the security upon the death of the owner.
"Register", including its derivatives, means to issue a certificate showing the ownership of acertificated security or, in the case of an uncertificated security, to initiate or transfer an account, including but not limited to an account held on the books of the registering entity, showing ownership of securities.
"Registering entity" means a person who originates or transfers a security title by registration, and includes a broker, bank, or trust company maintaining security accounts for customers and a transfer agent or other person acting for or as an issuer of securities.
"Security" means a share, participation, or other interest in property, in a business, or in anobligation of an enterprise or other issuer, and includes a certificated security, an uncertificated security, and a security account.
"Security account" means (i) a reinvestment account associated with a security, a securitiesaccount with a broker, a cash balance in a brokerage account, cash, cash equivalents, interest, earnings, or dividends earned or declared on a security in an account, a reinvestment account, or a brokerage account, whether or not credited to the account before the owner's death; (ii) an investment management or custody account with a trust company or a trust division of a bank with trust powers, including the securities in the account, a cash balance in the account, and cash, cash equivalents, interest, earnings, or dividends earned or declared on a security in the account, whether or not credited to the account before the owner's death; or (iii) a cash balance or other property held for or due to the owner of a security as a replacement for or product of an account security, whether or not credited to the account before the owner's death.
Source: L. 90: Entire article R&RE, p. 917, § 1, effective July 1. L. 2003: (2) and (3) amended, p. 2111, § 5, effective May 22. L. 2004: (5) amended, p. 1535, § 2, effective August 4.