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At the outset of the Act, "security" is defined as "any note, stock, treasury stock, security future, security based swap, bond, debenture, evidence of indebtedness, certificate of interest or participation in any profit sharing agreement, collateral trust certificate…" and many others are subject to the law. The key is that the security creates a share of income for the holder, whether in the form of debt or equity. Options for later purchase are also included in the definition of security. The asset in question is a "share" that entitles the bearer to college credits in any school at the future date. A college credit is not a claim to a cash flow, nor it is claim to equity. Therefore, this is not a security.

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The control center keeps track of the status of the sensors and reports activity through LCD displays and other output devices.

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In managed alarm systems, the control panel also checks the sensors to verify that they are still operational; if a sensor fails to reply, the center alerts the home owner of an out of order sensor.

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Congress certainly has the sole right to enact the legislation with which administrative agencies must comply.

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District of Columbia, Maryland, and Virginia Advisory Committees to the U.