2000 Minnesota Statutes

     524.6-301 Definitions. 

    In sections 524.6-301 to 524.6-311: 

    (1) "Beneficiary form" means a registration of a security 
 which indicates the present owner of the security and the 
 intention of the owner regarding the person who will become the 
 owner of the security upon the death of the owner. 

    (2) "Register," including its derivatives, means to issue a 
 certificate showing the ownership of a certificated security or, 
 in the case of an uncertificated security, to initiate or 
 transfer an account showing ownership of securities. 

    (3) "Registering entity" means a person who originates or 
 transfers a security title by registration, and includes a 
 broker maintaining security accounts for customers and a 
 transfer agent or other person acting for or as an issuer of 
 securities. 

    (4) "Security" means a share, participation, or other 
 interest in property, in a business, or in an obligation of an 
 enterprise or other issuer, and includes a certificated 
 security, an uncertificated security, and a security account. 

    (5) "Security account" means (i) 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 an account, a 
 reinvestment account, or a brokerage account, whether or not 
 credited to the account before the owner's death, or (ii) 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. 

    HIST: 1992 c 461 art 2 s 1