§ 70A-8-201 — Issuer.

Utah § 70A-8-201

• Jurisdiction: Utah
• Title 70A: Uniform Commercial Code
• Ch. 70A-8: Uniform Commercial Code - Investment Securities
• Part 70A-8-2: Issue and Issuer

Text

(1) With respect to an obligation on or a defense to a security, an "issuer" includes a person that:

(1)(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;
(1)(b) creates a share, participation, or other interest in its property or in an enterprise, or undertakes an obligation, that is an uncertificated security;
(1)(c) directly or indirectly creates a fractional interest in its rights or property, if the fractional interest is represented by a security certificate; or
(1)(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.

Legislative History

Repealed and Re-enacted by Chapter 204, 1996 General Session