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Can you summarize MNST 336.8-201?
UNIFORM COMMERCIAL CODE > ISSUER.
Short Summary
This legal document, Minnesota Statutes » TRADE REGULATIONS, CONSUMER PROTECTION » UNIFORM COMMERCIAL CODE 336.8-201, defines the term ‘issuer’ in relation to obligations and defenses related to securities. An ‘issuer’ includes a person who places or authorizes the placing of its name on a security certificate, creates an uncertificated security, creates a fractional interest represented by a security certificate, or becomes responsible for another person described as an issuer. Additionally, a guarantor is considered an issuer to the extent of its guaranty. The document also clarifies that issuer, with respect to a registration of a transfer, refers to a person on whose behalf transfer books are maintained. This document was repealed in 1995.
Whom does it apply to?
Persons involved in obligations or defenses related to securities
What does it govern?
Obligations and defenses related to securities
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
No penalties are mentioned.
Jurisdiction
Minnesota