{"data":{"id":"us-ar/ark.-code-ann.-4-8-201","jurisdiction":"us-ar","citation":"Ark. Code Ann. § 4-8-201","heading":"Issuer.","body":"(a) With respect to an obligation on or a defense to a security, an “issuer” includes a person that:\n(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;\n(2) creates a share, participation, or other interest in its property or in an enterprise, or undertakes an obligation, that is an uncertificated security;\n(3) directly or indirectly creates a fractional interest in its rights or property, if the fractional interest is represented by a security certificate; or\n(4) becomes responsible for, or in place of, another person described as an issuer in this section.\n(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.\n(c) With respect to a registration of a transfer, issuer means a person on whose behalf transfer books are maintained.","path":["Title 4 Business and Commercial Law","Subtitle 1. Uniform Commercial Code","Chapter 8 Investment Securities","Part 2 — Issue and Issuer"],"source_url":"https://archive.org/download/gov.ar.code/release78.2020.11.06/gov.ar.code.title.04.odt","current_through":"2020-11-06","vintage":"Arkansas Code Release 78 (2020-11), retrieved 2026-09-17","retrieved_at":"2026-09-17T21:07:03Z","sha256":"730a0ea06de53945fa11e5a48ce2a4b41ed3e7dda45a8c70c4228898157bd220","source_id":"us-ar","stale":false,"prev":"us-ar/ark.-code-ann.-4-8-116","next":"us-ar/ark.-code-ann.-4-8-202"},"notice":"GroundRules: Original legal text. Not legal advice."}