§ 8201. — 8201. (Repealed and added by Stats. 1996, Ch. 497, Sec. 9.)

California § 8201.

• Jurisdiction: California
• Code COM: Commercial Code - COM
• Div. 8.: DIVISION 8. INVESTMENT SECURITIES
• Ch. 2.: CHAPTER 2. Issue and Issuer

Text

(a)
With respect to an obligation on or a defense to a security, an “issuer” includes a person that does any of the following:
(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.
(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.

Legislative History

Repealed and added by Stats. 1996, Ch. 497, Sec. 9. Effective January 1, 1997.