PART 2. 
ISSUE AND ISSUER



 



§490:8-201  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.
[L 1997, c 33, pt of §2]