{"data":{"id":"us-md/md.-code-commercial-law-8-201","jurisdiction":"us-md","citation":"Md. Code, Commercial Law § 8–201","heading":"","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":["Article - Commercial Law"],"source_url":"https://mgaleg.maryland.gov/mgawebsite/Laws/StatuteText?article=gcl\u0026section=8-201","current_through":"2026-01-01","vintage":"","retrieved_at":"2026-09-14T19:56:33Z","sha256":"97e21bb3f667646c79261f8c96e805bbb02d781d0b534d9be99c9a48166e42f5","source_id":"us-md","stale":false,"prev":"us-md/md.-code-commercial-law-8-116","next":"us-md/md.-code-commercial-law-8-202"},"notice":"GroundRules: Original legal text. Not legal advice."}