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27-41-4
Section 27-41-4 General requirements as to eligibility of investments. No investment (other
than in common stocks allowed under Section 27-41-17, in insurance stocks allowed under Section
27-41-18, in loans or investments allowed under Section 27-41-35, in real property allowed
under Section 27-41-34, or in funeral supply inventories and equipment allowed under Section
27-41-38) shall be an eligible investment unless it is interest-bearing or interest-accruing
or dividend or income-paying, is not then in default, and the insurer is entitled to receive
for its account and benefit the interest or income accruing thereon. An investment may be
eligible notwithstanding that part of the interest or income accruing thereon is paid by the
insurer to a third party in consideration of services rendered by the third party with respect
to the investment or that part of the interest or income accruing thereon is shared by the
insurer with one or more joint venturers or others participating in the...
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7-8-103
Section 7-8-103 Rules for determining whether certain obligations and interests are securities
or financial assets. (a) A share or similar equity interest issued by a corporation, business
trust, joint stock company, or similar entity is a security. (b) An "investment company
security" is a security. "Investment company security" means a share or similar
equity interest issued by an entity that is registered as an investment company under the
federal investment company laws, an interest in a unit investment trust that is so registered,
or a face-amount certificate issued by a face-amount certificate company that is so registered.
Investment company security does not include an insurance policy or endowment policy or annuity
contract issued by an insurance company. (c) An interest in a partnership or limited liability
company is not a security unless it is dealt in or traded on securities exchanges or in securities
markets, its terms expressly provide that it is a security governed by...
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7-8-313
Section 7-8-313 (Effective Until January 1, 1997) When delivery to the purchaser occurs; purchaser's
broker as holder. (1) Delivery to a purchaser occurs when: (a) He or a person designated by
him acquires possession of a security; or (b) His broker acquires possession of a security
specially indorsed to or issued in the name of the purchaser; or (c) His broker sends him
confirmation of the purchase and also by book entry or otherwise identifies a specific security
in the broker's possession as belonging to the purchaser; or (d) With respect to an identified
security to be delivered while still in the possession of a third person when that person
acknowledges that he holds for the purchaser; or (e) Appropriate entries on the books of a
clearing corporation are made under Section 7-8-320. (2) The purchaser is the owner of a security
held for him by his broker, but is not the holder except as specified in subparagraphs (b),
(c) and (e) of subsection (1). Where a security is part of a...
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8-6-2
Section 8-6-2 Definitions. When used in this article, unless the context otherwise requires,
the following terms shall have the meanings respectively ascribed to them by this section:
(1) COMMISSION or SECURITIES COMMISSION. The securities commission. (2) AGENT. Any individual
other than a dealer who represents a dealer or issuer in effecting or attempting to effect
sales of securities, but such term does not include an individual who represents an issuer
in: a. Effecting a transaction in a security exempted by subdivisions (1), (2), (3), (4),
(9) or (10) of Section 8-6-10; b. Effecting transactions exempted by Section 8-6-11; or c.
Effecting transactions with existing employees, partners, or directors of the issuer if no
commission or other remuneration is paid or given directly or indirectly for soliciting any
person in this state. A partner, officer, or director of a dealer or issuer is an agent if
he otherwise comes within this definition. (3) DEALER. Any person engaged in the...
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11-50-314
Section 11-50-314 Powers of corporation generally; provisions in mortgages, deeds of trust,
or pledge agreements executed by corporation as to rights of parties thereto, etc. (a) Each
corporation formed or the certificate of incorporation of which is amended under this article
shall have the following powers together with all powers incidental thereto or necessary to
the discharge thereof in corporate form: (1) To have succession by its corporate name for
the duration of time (which may be in perpetuity) specified in its certificate of incorporation
or until dissolved as provided in this article; (2) To sue and be sued and to defend civil
actions against it; (3) To make use of a corporate seal and to alter the same at pleasure;
(4) To acquire, purchase, construct, operate, maintain, enlarge, extend, and improve any system
or systems, the operation of which is provided for in the certificate of incorporation of
such corporation or in any amendment thereto (whether or not such system or...
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8-6-91
Section 8-6-91 Definitions. In this article, unless the context otherwise requires, the following
terms shall have the meanings ascribed to them by this section: (1) BANK. A bank, trust company,
national banking association, savings bank, or industrial bank. (2) BROKER. A person, including
a bank, lawfully engaged in the business of effecting transactions in securities for the account
of others and includes a broker lawfully engaged in buying and selling securities for his
own account. (3) ISSUER. A person who places, or authorizes the placing of, his name on a
security other than as a transfer agent to evidence that it represents a share, participation,
or other interest in his property or in an enterprise or to evidence his duty to perform an
obligation evidenced by the security or who becomes responsible for or in place of any such
person. (4) PERSON. Such term includes a corporation, government or governmental subdivision
or agency, business trust, estate, trust, partnership or...
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10A-2A-9.15
Section 10A-2A-9.15 Effect of conversion. (a) When a conversion takes effect: (1) all property
and contract rights owned by the converting organization remain vested in the converted organization
without transfer, reversion, or impairment, and the title to any property vested by deed or
otherwise in the converting organization shall not revert or be in any way impaired by reason
of the conversion; (2) all debts, obligations, or other liabilities of the converting organization
continue as debts, obligations, or other liabilities of the converted organization and neither
the rights of creditors, nor the liens upon the property of the converting organization shall
be impaired by the conversion; (3) an action or proceeding pending by or against the converting
organization continues as if the conversion had not occurred and the name of the converted
organization may, but need not, be substituted for the name of the converting organization
in any pending action or proceeding; (4) except as...
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11-50-235
Section 11-50-235 Powers of corporation generally; provisions in mortgages, deeds of trust,
or pledge agreements executed by corporation as to rights of parties thereto, etc.; exemption
from taxation of property and income of corporation. (a) Each corporation formed under this
division shall have the following powers together with all powers incidental thereto or necessary
to the discharge thereof in corporate form: (1) To have succession by its corporate name for
the duration of time (which may be in perpetuity) specified in its certificate of incorporation
or until dissolved as provided in this division; (2) To sue and be sued and to defend civil
actions against it; (3) To make use of a corporate seal and to alter the same at pleasure;
(4) To acquire, purchase, construct, operate, maintain, enlarge, extend, and improve any system
or systems, the operation of which is provided for in the certificate of incorporation of
such corporation (whether or not such system or systems were in...
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45-49A-10.05
Section 45-49A-10.05 Power to borrow money and issue revenue bonds. (a) The corporation shall
have the power to borrow money and to issue revenue bonds as evidence of any money borrowed,
which bonds shall be payable solely from the revenues derived from the activities and enterprises
in which the corporation is hereby authorized to engage. As security for any money so borrowed,
together with interest thereon, and any obligations incurred or assumed, the corporation in
its discretion may mortgage, pledge, or otherwise transfer and convey its real, personal,
and mixed property, or any part or parts thereof, whether then owned or thereafter acquired,
including any franchises then owned or thereafter acquired, and all or any part of the revenues
derived from the activities or enterprises in which the corporation is hereby authorized to
engage. (b) When the corporation deems it advisable, convenient, necessary, or expedient to
issue such bonds, it shall so resolve and all the provisions of...
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8-6-140
Section 8-6-140 Definitions. For the purposes of this article, the following words have the
following meanings unless the context otherwise requires: (1) BENEFICIARY FORM. 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) DEVISEE. Any person designated in a will to receive a disposition of real or personal
property. (3) HEIRS. Those persons, including the surviving spouse, who are entitled under
the statutes of intestate succession to the property of a decedent. (4) PERSON. An individual,
a corporation, an organization, or other legal entity. (5) PERSONAL REPRESENTATIVE. Includes
executor, administrator, successor personal representative, special administrator, and persons
who perform substantially the same function under the law governing their status. (6) PROPERTY.
Includes both real and personal property or any interest therein...
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