Issuer

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. Source: L. 96: Entire article R&RE, p. 216, � 2, effective July 1. Editor's note: This section is similar to former � 4-8-201 as it existed prior to 1996.