70A-8-201. Issuer.
202 words·~1 min read·
/ut/title-70a/chapter-8/70a-8-201A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
70A-8-201. 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;
(b)creates a share, participation, or other interest in its property or in an enterprise, or undertakes an obligation, that is an uncertificated security;
(c)directly or indirectly creates a fractional interest in its rights or property, if the fractional interest is represented by a security certificate; or
(d)becomes responsible for, or in place of, another person described as an issuer in this section.
(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.
(3)With respect to a registration of a transfer, issuer means a person on whose behalf transfer books are maintained.
Repealed and Re-enacted by Chapter 204 , 1996 General Session