Terms Used In Arizona Laws > Title 47 > Chapter 8 > Article 3 - Transfer of Certificated and Uncertificated Securities

• 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. See Arizona Laws 47-8102
• Certificated security: means a security that is represented by a certificate. See Arizona Laws 47-8102
• Guarantor: A party who agrees to be responsible for the payment of another party's debts should that party default. ^{Source: OCC}
• 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. See Arizona Laws 47-8102
• 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. See Arizona Laws 47-8102
• Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
• Person: includes a corporation, company, partnership, firm, association or society, as well as a natural person. See Arizona Laws 1-215
• Securities intermediary: means :

  (a) A clearing corporation; or

  (b) 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. See Arizona Laws 47-8102

• Security: except as otherwise provided in section 47-8103, 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:

  (a) 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;

  (b) 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

  (c) Which:

  (i) Is, or is of a type, dealt in or traded on securities exchanges or securities markets; or

  (ii) Is a medium for investment and by its terms expressly provides that it is a security governed by this chapter. See Arizona Laws 47-8102

• Security certificate: means a certificate representing a security. See Arizona Laws 47-8102
• Uncertificated security: means a security that is not represented by a certificate. See Arizona Laws 47-8102