§ 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 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.
History
This law was first created in 1996. The record of its establishment is cataloged in chapter 216 of that year’s edition of “Acts of Assembly,” the annual state publication listing all changes made to the Code of Virginia in that year.
1996, c. 216.