§ 8–201
Statutes in effect as of October 1, 2026.
Md. Code Ann., Com. Law § 8-201 (2026)
Title 8. Investment Securities
Subtitle 2. Issue and Issuer
§ 8–201LinkCopy Citation
(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.