§8-1201. Issuer








(1). 
 
With respect to an obligation on or a defense to a security, an "issuer" includes
a person that:





(a). Places or authorizes the placing of its name on a security certificate, other than
as authenticating trustee, registrar, transfer agent or the like, to evidence a share,
participation or other interest in its property or in an enterprise, or to evidence
its duty to perform an obligation represented by the certificate; [1997, c. 429, Pt. B, §2 (NEW).]










(b). Creates a share, participation or other interest in its property or in an enterprise,
or undertakes an obligation, that is an uncertificated security; [1997, c. 429, Pt. B, §2 (NEW).]










(c). Directly or indirectly creates a fractional interest in its rights or property,
if the fractional interest is represented by a security certificate; or [1997, c. 429, Pt. B, §2 (NEW).]










(d). Becomes responsible for, or in place of, another person described as an issuer in
this section. [1997, c. 429, Pt. B, §2 (NEW).]







[
1997, c. 429, Pt. B, §2 (NEW)
.]








(2). 
 
With respect to an obligation on or defense to a security, a guarantor is an issuer
to the extent of its guaranty, whether or not its obligation is noted on a security
certificate.


[
1997, c. 429, Pt. B, §2 (NEW)
.]








(3). 
 
With respect to a registration of a transfer, issuer means a person on whose behalf
transfer books are maintained.


[
1997, c. 429, Pt. B, §2 (NEW)
.]





SECTION HISTORY

1997, c. 429, §B2 (NEW).