Kentucky Statutes 355.8-201 – “Issuer.”
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(1) With respect to an obligation on or a defense to a security, an “issuer” includes a person that:
(a) 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;
(b) Creates a share, participation, or other interest in its property or in an enterprise, or undertakes an obligation, that is an uncertificated security;
(c) Directly or indirectly creates a fractional interest in its rights or property, if the fractional interest is represented by a security certificate; or
(d) Becomes responsible for, or in place of, another person described as an issuer in this section.
(2) 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.
(3) With respect to a registration of a transfer, issuer means a person on whose behalf transfer books are maintained.
Effective: January 1, 1997
History: Repealed and reenacted 1996 Ky. Acts ch. 130, sec. 130, effective January 1,
1997. — Amended 1986 Ky. Acts ch. 118, sec. 17, effective July 1, 1987. — Created
1958 Ky. Acts ch. 77, sec. 8-201, effective July 1, 1960.
(a) 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;
Terms Used In Kentucky Statutes 355.8-201
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- Guarantor: A party who agrees to be responsible for the payment of another party's debts should that party default. Source: OCC
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- Trustee: A person or institution holding and administering property in trust.
(b) Creates a share, participation, or other interest in its property or in an enterprise, or undertakes an obligation, that is an uncertificated security;
(c) Directly or indirectly creates a fractional interest in its rights or property, if the fractional interest is represented by a security certificate; or
(d) Becomes responsible for, or in place of, another person described as an issuer in this section.
(2) 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.
(3) With respect to a registration of a transfer, issuer means a person on whose behalf transfer books are maintained.
Effective: January 1, 1997
History: Repealed and reenacted 1996 Ky. Acts ch. 130, sec. 130, effective January 1,
1997. — Amended 1986 Ky. Acts ch. 118, sec. 17, effective July 1, 1987. — Created
1958 Ky. Acts ch. 77, sec. 8-201, effective July 1, 1960.