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§ 8-201. Issuer, defined

West's Annotated Code of MarylandCommercial Law

West's Annotated Code of Maryland
Commercial Law
Title 8. Investment Securities (Refs & Annos)
Subtitle 2. Issue and Issuer (Refs & Annos)
MD Code, Commercial Law, § 8-201
§ 8-201. Issuer, defined
Currentness
(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.

Credits

Acts 1996, c. 92 § 2, eff. Oct. 1, 1996.
MD Code, Commercial Law, § 8-201, MD COML § 8-201
Current through legislation effective through April 9, 2023, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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