Arkansas Code
Subchapter 2 - Stock Insurers — Insider Trading
§ 23-69-201. Definition

As used in this subchapter, unless the context otherwise requires, “equity security” means:
(1) Any stock or similar security;
(2) Any security convertible, with or without consideration, into such a security, or carrying any warrant or right to subscribe to or purchase such a security;
(3) Any such warrant or right; or
(4) Any other security which the Insurance Commissioner shall deem to be of similar nature and consider necessary or appropriate, by such rules as he or she may prescribe in the public interest or for the protection of investors, to treat as an equity security.

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