### Question
How does the law define issuer?


### Answer
Under *15 U.S.C. § 77b*, **issuer** is defined as:

> the person or persons performing the acts and assuming the duties of depositor or manager pursuant to the provisions of the trust or other agreement or instrument under which such securities are issued

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

