84-8-201. Issuer.
192 words·~1 min read·
/ks/chapter-84/84-8-201A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
84-8-201. Issuer.
(a)With respect to an obligation on or a defense to a security, an issuer includes a person that:
(1)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;
(2)creates a share, participation or other interest in its property or in an enterprise, or undertakes an obligation, that is an uncertificated security;
(3)directly or indirectly creates a fractional interest in its rights or property, if the fractional interest is represented by a security certificate; or
(4)becomes responsible for, or in place of, another person described as an issuer in this section.
(b)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.
(c)With respect to a registration of a transfer, issuer means a person on whose behalf transfer books are maintained.