What is a Security?
A security is defined by the Securities Exchange Act of 1934, as any
- note,
- stock,
- treasury stock,
- bond,
- debenture,
- certificate of interest or participation in:
- any profit-sharing agreement or
- any oil, gas, or other mineral royalty or lease,
- any collateral trust certificate,
- preorganization certificate or subscription,
- transferable share,
- investment contract,
- voting-trust certificate,
- certificate of deposit, for a security,
- any put, call, straddle, option, or privilege on any security, certificate of deposit, or group or index of securities (including any interest therein or based on the value thereof), or
- any put, call, straddle, option, or privilege entered into on a national securities exchange relating to foreign currency, or in general,
- any instrument commonly known as a 'security'; or
- any certificate of interest or participation in, temporary or interim certificate for, receipt for, or warrant or right to subscribe to or purchase, any of the foregoing;
- but shall not include:
- currency or
- any note,
- draft,
- bill of exchange, or
- banker's acceptance which has a maturity at the time of issuance of not exceeding nine months, exclusive of days of grace, or any renewal thereof the maturity of which is likewise limited."
