Definition of a Person
“Persons” Are Legal Entities Under the Act, a “person” may issue securities or can trade securities. Legal terminology allows “persons” to be either human or non-human. For example, under the Act, a corporation is considered to be a “person.”
Under the Act, PERSONS are defined as:
Individuals (human beings)
Corporations (non-human persons!)
Partnerships (including general partners who can contractually bind the partnership)
Business Trusts Estates Trusts (where the interests of the beneficiaries of the Trust are evidenced by a security)
Associations Joint Stock Companies or Joint Ventures Governments and Political Subdivisions of Governments (for example, a township is a political subdivision)
Unincorporated Organizations and any other legal or commercial entity