Sec. 42a-8-201. Issuer. - Connecticut Statutes

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Statutes > Connecticut > Title42a > Art008 > Sec42a-8-201

      Sec. 42a-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.

      (1959, P.A. 133, S. 8-201; P.A. 79-435, S. 8; P.A. 97-182, S. 17.)

      History: P.A. 79-435 applied previous provisions to certificated securities, added provisions specifically applicable to uncertificated securities and added reference to registration of pledge or release in Subsec. (3); P.A. 97-182 replaced numeric with alphabetic Subsec. indicators and rephrased provisions.

State Codes and Statutes

Statutes > Connecticut > Title42a > Art008 > Sec42a-8-201

      Sec. 42a-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.

      (1959, P.A. 133, S. 8-201; P.A. 79-435, S. 8; P.A. 97-182, S. 17.)

      History: P.A. 79-435 applied previous provisions to certificated securities, added provisions specifically applicable to uncertificated securities and added reference to registration of pledge or release in Subsec. (3); P.A. 97-182 replaced numeric with alphabetic Subsec. indicators and rephrased provisions.

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State Codes and Statutes

Statutes > Connecticut > Title42a > Art008 > Sec42a-8-201

      Sec. 42a-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.

      (1959, P.A. 133, S. 8-201; P.A. 79-435, S. 8; P.A. 97-182, S. 17.)

      History: P.A. 79-435 applied previous provisions to certificated securities, added provisions specifically applicable to uncertificated securities and added reference to registration of pledge or release in Subsec. (3); P.A. 97-182 replaced numeric with alphabetic Subsec. indicators and rephrased provisions.