Section 8-201 - Issuer. - Maryland Statutes

§ 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. 
 

[1996, ch. 92, § 2.]