Illinois Compiled Statutes 810 ILCS 5/8-201 – Issuer
Current as of: 2024 | Check for updates
|
Other versions
(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
(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.
Terms Used In Illinois Compiled Statutes 810 ILCS 5/8-201
- 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.
(c) With respect to a registration of a transfer, issuer means a person on whose behalf transfer books are maintained.