{"code":"COM","codeName":"Commercial Code","section":"8201","citation":"Com. Code, § 8201","status":"in-force","lawOn":"2026-09-28","headings":[{"name":"DIVISION 8. INVESTMENT SECURITIES [8101. - 8603.]","url":"https://blackletter.si/commercial-code/division-8"},{"name":"CHAPTER 2. Issue and Issuer [8201. - 8210.]","url":"https://blackletter.si/commercial-code/division-8/chapter-2"}],"history":"Repealed and added by Stats. 1996, Ch. 497, Sec. 9. Effective January 1, 1997.","effective":"1997-01-01","html":"

(a) With respect to an obligation on or a defense to a security, an “issuer” includes a person that does any of the following:

(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.

(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.

","text":"(a) With respect to an obligation on or a defense to a security, an “issuer” includes a person that does any of the following: (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. (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.","otherVersions":[],"url":"https://blackletter.si/commercial-code/issue-and-issuer-8201","source":"California Legislative Information bulk export (pubinfo)"}