§ 4-8-201 — 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.

Legislative History

Source: L. 96: Entire article R&RE, p. 216, � 2, effective July 1.