Section 45.08.201. "Issuer".

   (a) With respect to obligations on or defenses to a security, "issuer" includes a person who
        (1) places or authorizes the placing of the person's 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 the person's property or in an enterprise, or to evidence the person's duty to perform an obligation represented by the certificate;
        (2) creates shares, participations, or other interests in that person's property or in an enterprise, or undertakes obligations, if the shares, participations, interests, or obligations are uncertificated securities;
        (3) directly or indirectly creates fractional interests in the person's rights or property, if the fractional interests are represented by security certificates; or
        (4) becomes responsible for, or in place of, another person described as an issuer in this section.
   (b) With respect to obligations on or defenses to a security, a guarantor is an issuer to the extent of the guarantor's guarantee, whether or not the guarantor's obligation is noted on a security certificate.
   (c) With respect to registration of a transfer, "issuer" means a person on whose behalf transfer books are maintained.

Authorities

45.05.624;45.08.102;45.08.210;45.29.102

Notes

References

AS 45.05.624
AS 45.08.102 Definitions.
AS 45.08.210 Overissue.
AS 45.29.102 Definitions.

History

(Sec. 8.201 ch 114 SLA 1962; am Sec. 12 ch 49 SLA 1990; am Sec. 13 ch 17 SLA 1996)