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 Oklahoma Statutes (Last Updated: September 18, 2014)
 Title 12A. UNIFORM COMMERCIAL CODE

  § 12A-8-201. "Issuer".  

Latest version.

  • "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 Laws 1961, p. 153, § 8-201.  Amended by Laws 1984, c. 76, § 10, eff. Nov. 1, 1984; Laws 1995, c. 242, § 17, eff. Feb. 1, 1996.