§ 25-8-201. Issuer. - North Carolina Statutes

Part 2.

Issueand Issuer.

§ 25‑8‑201. Issuer.

(a)        With respect to anobligation on or a defense to a security, an "issuer" includes aperson that:

(1)        Places or authorizesthe placing of its name on a security certificate, other than as authenticatingtrustee, registrar, transfer agent, or the like, to evidence a share,participation, or other interest in its property or in an enterprise, or toevidence 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, orundertakes an obligation, that is an uncertificated security;

(3)        Directly orindirectly creates a fractional interest in its rights or property, if thefractional interest is represented by a security certificate; or

(4)        Becomes responsiblefor, or in place of, another person described as an issuer in this section.

(b)        With respect to anobligation on or defense to a security, a guarantor is an issuer to the extentof its guaranty, whether or not its obligation is noted on a securitycertificate.

(c)        With respect to aregistration of a transfer, issuer means a person on whose behalf transferbooks are maintained. (1899, c. 733, ss. 29, 60 to 62; Rev., ss. 2177, 2209to 2211; C.S., ss. 3009, 3041 to 3043; 1965, c. 700, s. 1; 1989, c. 588, s. 1;1989 (Reg. Sess., 1990), c. 1024, s. 9(b); 1997‑181, s. 1.)