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

   1. (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. (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. (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. (4) becomes responsible for, or in place of, another person described as an issuer in this section.
2. (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.
3. (c) With respect to a registration of a transfer, issuer means a person on whose behalf transfer books are maintained.

HISTORY: 1962 Code Section 10.8-201; 1966 (54) 2716; 1991 Act No. 161, Section 1; 2001 Act No. 67, Section 5.