The Vermont Statutes Online
The Statutes below include the actions of the 2025 session of the General Assembly.
NOTE: The Vermont Statutes Online is an unofficial copy of the Vermont Statutes Annotated that is provided as a convenience.
(Cite as: 9A V.S.A. § 8-201)
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§ 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. (Added 1995, No. 92 (Adj. Sess.), § 1, eff. Jan. 1, 1997.)