70A-8-201 - Issuer.
70A-8-201. Issuer.
(1) With respect to an obligation on or a defense to a security, an "issuer" includes aperson that:
(a) places or authorizes the placing of its name on a security certificate, other than asauthenticating trustee, registrar, transfer agent, or the like, to evidence a share, participation, orother interest in its property or in an enterprise, or to evidence its duty to perform an obligationrepresented by the certificate;
(b) creates a share, participation, or other interest in its property or in an enterprise, orundertakes an obligation, that is an uncertificated security;
(c) directly or indirectly creates a fractional interest in its rights or property, if thefractional interest is represented by a security certificate; or
(d) becomes responsible for, or in place of, another person described as an issuer in thissection.
(2) With respect to an obligation on or defense to a security, a guarantor is an issuer tothe 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 behalftransfer books are maintained.
Repealed and Re-enacted by Chapter 204, 1996 General Session