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554.8201 "Issuer."

1. With respect to obligations on or defenses to a security "issuer" includes a person who:

a. places or authorizes the placing of that person's name on a certificated security (otherwise than as authenticating trustee, registrar, transfer agent, or the like) to evidence that it represents a share, participation, or other interest in that person's property or in an enterprise or to evidence that person's duty to perform an obligation represented by the certificated security;

b. creates shares, participations or other interests in the person's property or in an enterprise or undertakes obligations, which shares, participations, interests, or obligations are uncertificated securities;

c. directly or indirectly creates fractional interests in that person's rights or property, which fractional interests are represented by certificated securities; or

d. becomes responsible for or in place of any other person described as an issuer in this section.

2. With respect to obligations on or defenses to a security, a guarantor is an issuer to the extent of the guarantor's guaranty, whether or not the guarantor's obligation is noted on a certificated security or on statements of uncertificated securities sent pursuant to section 554.8408.

3. With respect to registration of transfer, pledge, or release (Part 4 of this Article), "issuer" means a person on whose behalf transfer books are maintained.

Section History: Early form

[S13, § 3060-a29, -a60, -a61, -a62; C24, 27, 31, 35, 39, § 9489, 9520--;9522; C46, 50, 54, 58, 62, § 541.29, 541.60--;541.62; C66, 71, 73, 75, 77, 79, 81, § 554.8201]

Section History: Recent form

89 Acts, ch 113, § 8

Internal References

Referred to in § 515.35, 554.8102

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Last update: Thu Feb 8 18:14:51 CST 1996
URL: /IACODE/1995/554/8201.html