South Dakota § 57A-8-201 Issuer.

South Dakota Statutes

§ 57A-8-201 — Issuer.

South Dakota·Title 57A UNIFORM COMMERCIAL CODE·Ch. 57A-6 INVESTMENT SECURITIES

(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, anot

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(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.

South Dakota § 57A-8-201 (Issuer.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.