LD 509
pg. 19
Page 18 of 183 An Act To Adopt the Maine Uniform Securities Act Page 20 of 183
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LR 441
Item 1

 
C.__A sale or offer of a warrant or right to purchase or
subscribe to another security of the same or another issuer
and a sale or offer of a security that gives the holder a
present or future right or privilege to convert the security
into another security of the same or another issuer,
including an offer of the other security.

 
27.__Securities and Exchange Commission. "Securities and
Exchange Commission" means the United States Securities and
Exchange Commission.

 
28.__Security. "Security" means a note; stock; treasury stock;
security future; bond; debenture; evidence of indebtedness;
certificate of interest or participation in a profit-sharing
agreement; collateral trust certificate; preorganization
certificate or subscription; transferable share; investment
contract; investment in a viatical or life settlement contract;
voting trust certificate; certificate of deposit for a security;
fractional undivided interest in oil, gas or other mineral
rights; documents of title to or certificates of interest or
participation in an oil, gas or other mineral title or lease or
in payments out of production under any title, lease, right or
royalty; put, call, straddle, option or privilege on a security,
certificate of deposit or group or index of securities, including
an interest therein or based on the value thereof; put, call,
straddle, option or privilege entered into on a national
securities exchange relating to foreign currency; or, in general,
an interest or instrument commonly known as a "security"; or a
certificate of interest or participation in, temporary or interim
certificate for, receipt for, guarantee of or warrant or right to
subscribe to or purchase any of the foregoing. "Security":

 
A.__Includes both a certificated and an uncertificated
security;

 
B.__Does not include an insurance or endowment policy or
annuity contract under which an insurance company promises
to pay a fixed or variable sum of money either in a lump sum
or periodically for life or other specified period;

 
C.__Does not include an interest in a contributory or
noncontributory pension or welfare plan subject to the
federal Employee Retirement Income Security Act of 1974;

 
D.__Includes as an investment contract an investment in a common
enterprise with the expectation of profits to be derived
primarily from the efforts of a person other than the investor.__
For purposes of this paragraph, "common enterprise" means an
enterprise in which the fortunes of the


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