Texas Business & Commerce Code

§ 8.201 — ISSUER

BC § 8.201Title 1. UNIFORM COMMERCIAL CODE · Ch. 8. INVESTMENT SECURITIES · Art. B. ISSUE AND ISSUER

Statute text

(a)With respect to an obligation on or a defense to a security, "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.

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Legislative history

Amended by Acts 1995, 74th Leg., ch. 962, Sec. 1, eff. Sept. 1, 1995.