{"data":{"id":"us-sd/sdcl-57a-8-201","jurisdiction":"us-sd","citation":"SDCL § 57A-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.\nSource: SL 1998, ch 284, § 1.","path":["TITLE 57A. UNIFORM COMMERCIAL CODE","CHAPTER 57A-8. INVESTMENT SECURITIES"],"source_url":"https://sdlegislature.gov/Statutes/57A-8-201","current_through":"2026-08-31","vintage":"","retrieved_at":"2026-09-03T15:18:57Z","sha256":"bae87ac6e7202a1ba59881e7a80d23762d4fb1feef85e5ccf15deac2d00d1fc4","source_id":"us-sd","stale":false,"prev":"us-sd/sdcl-57a-8-116","next":"us-sd/sdcl-57a-8-202"},"notice":"GroundRules: Original legal text. Not legal advice."}