Section 8--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.