{"data":{"id":"us-il/810-ilcs-5-8-201","jurisdiction":"us-il","citation":"810 ILCS 5/8-201","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":["CHAPTER 810 COMMERCIAL CODE","Uniform Commercial Code."],"source_url":"https://www.ilga.gov/legislation/ILCS/details?ActID=2301\u0026ChapterID=66\u0026ChapAct=FullText\u0026Print=True","current_through":"at least Public Act 104-790","vintage":"","retrieved_at":"2026-09-15T04:46:47Z","sha256":"26f1aff991aea06eeab1c76710b572e9ac07f3f9754f95b16d2204d8a2b8679c","source_id":"us-il","stale":false,"prev":"us-il/810-ilcs-5-8-116","next":"us-il/810-ilcs-5-8-202"},"notice":"GroundRules: Original legal text. Not legal advice."}