(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.
Structure Arkansas Code
Title 4 - Business and Commercial Law
Subtitle 1 - Uniform Commercial Code
Chapter 8 - Investment Securities
§ 4-8-202. Issuer's responsibility and defenses — Notice of defect or defense
§ 4-8-203. Staleness as notice of defect or defense
§ 4-8-204. Effect of issuer's restriction on transfer
§ 4-8-205. Effect of unauthorized signature on security certificate
§ 4-8-206. Completion or alteration of security certificate
§ 4-8-207. Rights and duties of issuer with respect to registered owners
§ 4-8-208. Effect of signature of authenticating trustee, registrar, or transfer agent