(

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 this division, or it is an investment company security. However, an interest in a partnership or limited liability company is a financial asset if it is held in a securities account. (

d) A writing that is a security certificate is governed by this division and not by Division 3 (commencing with

Section 3101), even though it also meets the requirements of that division. However, a negotiable instrument governed by Division 3 (commencing with

Section 3101) is a financial asset if it is held in a securities account. (

e) An option or similar obligation issued by a clearing corporation to its participants is not a security, but is a financial asset. (

f) A commodity contract, as defined in paragraph (15) of subdivision (

a) of

Section 9102, is not a security or a financial asset. (

g) A document of title is not a financial asset unless subparagraph (

C) of paragraph (9) of subdivision (

a) of

Section applies. (

h) A controllable account, controllable electronic record, or controllable payment intangible is not a financial asset unless subparagraph (

C) of paragraph (9) of subdivision (

a) of

Section applies.