### Question
How is the term issuer defined?


### Answer
The term **issuer** is defined in *15 U.S.C. § 77b* as the following:

> every person who issues or proposes to issue any security

#### Citation:
  - *15 U.S.C. § 77b*
  - Heading: **CHAPTER 2A-SECURITIES AND TRUST INDENTURES > SUBCHAPTER I-DOMESTIC SECURITIES**

