SUBCHAPTER B. ISSUE AND ISSUER

Sec. 8.201.  ISSUER.  (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.
(c)  With respect to a registration of a transfer, "issuer" means a person on whose behalf transfer books are maintained.
Amended by Acts 1995, 74th Leg., ch. 962, Sec. 1, eff. Sept. 1, 1995.