How is Covered Account defined in a legal contract?
- Covered Account means an account created by a [financial intermediary] for someone else, allowing them to carry out transactions directly. Seen in 196 SEC filings.
- Covered Account means each of [various accounts] including the [certain sub accounts and reserve account]. Seen in 39 SEC filings.
- Covered Account means any account that can hold a [covered security], including accounts in the [person's name], joint or tenant-in-common accounts where the [person] has interest or is a participant. Seen in 35 SEC filings.
- Covered Account means each of [collection accounts] including [various subaccounts and reserve account], also other accounts established with [the securities intermediary] with the consent of the [administrative agent] and under the control of the [collateral agent]. Seen in 16 SEC filings.
- Covered Account means an account that holds [covered securities] in which an [access person] has a beneficial ownership. Seen in 15 SEC filings.
- Covered Account means any account that holds or may hold a [covered security], such as any account in [the covered person's name], joint or tenant-in-common account in which the [covered person] has an interest or is a participant. Seen in 15 SEC filings.
- Covered Account means an account with a broker, dealer, bank or other [financial institution] that holds any securities in which an [access person] has a beneficial interest and includes any account of a [covered family member]. Seen in 14 SEC filings.
Note: The Genie AI Legal Assistant pulled this data out of the SEC EDGAR Database of 500,000 records from the past 22 years of filings. We regularly update this page as new filings and definitions come in.
Search EDGAR for 'Definitions of covered account' yourself to verify these results. We are always keen to point people to source documents.
Which definition should you use?
🤔 Our AI Legal Assistant has combined and improved the above descriptions to create market-standard 'Genie definitions' below, with guidance on which documents and which industry to use for each.
Genie Definition 1
Covered Account means an account established by a [financial intermediary] for conducting transactions, holding [covered securities], or beneficial ownership.
Relevant Contract Types
Relevant Circumstances
- During the establishment of an account for conducting transactions.
- In scenarios involving the storage or holding of securities.
- When an entity wants to establish beneficial ownership over an account.
Relevant Sectors
Genie Definition 2
Covered Account means an account maintained with a [financial intermediary] that holds securities where the [access person] has beneficial interest.
Relevant Contract Types
Relevant Circumstances
- When an [access person] maintains a beneficial interest in the securities held in an account.
- During the creation of an account to hold securities.
Relevant Sectors
Covered Account means an account established by a [financial intermediary] for conducting transactions, holding [covered securities], or beneficial ownership.
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