(810 ILCS 5/8-201)
(from Ch. 26, par. 8-201)
(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.
(Source: P.A. 89-364, eff. 1-1-96.)