8.8A-201 - A-201. Issuer. - Virginia Statutes

§ 8.8A-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 inan enterprise, or to evidence its duty to perform an obligation representedby the certificate;

(2) creates a share, participation, or other interest in its property or inan enterprise, or undertakes an obligation, that is an uncertificatedsecurity;

(3) directly or indirectly creates a fractional interest in its rights orproperty, if the fractional interest is represented by a securitycertificate; or

(4) becomes responsible for, or in place of, another person described as anissuer in this section.

(b) With respect to an obligation on or defense to a security, a guarantor isan issuer to the extent of its guaranty, whether or not its obligation isnoted on a security certificate.

(c) With respect to a registration of a transfer, issuer means a person onwhose behalf transfer books are maintained.

(1996, c. 216.)