Section 102 Definitions - Massachusetts Statutes

[Text of section effective until July 1, 2011. Repealed by 2008, 521, Sec. 24. See 2008, 521, Sec. 44.]

Section 102. As used in this chapter the following words shall unless the context otherwise requires have the following meanings:—

“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.

“Devisee”, a person designated in a will to receive a disposition of real or personal property.

“Heir”, a person, including a surviving spouse, who is entitled under the statutes of intestate succession to the property of a decedent.

“Person”, an individual, a corporation, an organization, or other legal entity.

“Personal representative”, an executor, administrator, successor personal representative, special administrator, or a person who performs substantially the same function.

“Property”, real and personal property or any interest therein and means anything that may be the subject of ownership.

“Register”, to issue a certificate showing the ownership of a certificated security or, in the case of an uncertificated security, to initiate or transfer an account showing ownership of securities.

“Registering entity”, a person who originates or transfers a security title by registration, and includes a broker maintaining security accounts for customers and a transfer agent or other person acting for or as an issuer of securities.

“Security”, the same meaning as provided in clause (k) of section 401 of chapter 110A and includes a security account.

“Security account”, (i) a reinvestment account associated with a security, a securities account with a broker, a cash balance in a brokerage account, cash, interest, earnings, or dividends earned or declared on a security in an account, a reinvestment account, or a brokerage account, whether or not credited to the account before the owner’s death, or (ii) a cash balance or other property held for or due to the owner of a security as a replacement for or product of an account security, whether or not credited to the account before the owner’s death.

“State”, any state of the United States, the District of Columbia, the Commonwealth of Puerto Rico, and any territory or possession subject to the authority of the United States.