RS 10:8-201 Issue and issuer - Louisiana Statutes

PART 2.  ISSUE AND ISSUER

§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.

Added by Acts 1978, No. 165, §1, eff. Jan. 1, 1979.  Acts 1989, No. 135, §6, eff. Jan. 1, 1990; Acts 1995, No. 884, §1, eff. Jan. 1, 1996.