### Question
How is the term obligated person defined?


### Answer
The term **obligated person** is defined in *15 U.S.C. § 78o* as the following:

> any person, including an issuer of municipal securities, who is either generally or through an enterprise, fund, or account of such person, committed by contract or other arrangement to support the payment of all or part of the obligations on the municipal securities to be sold in an offering of municipal securities

#### Citation:
  - *15 U.S.C. § 78o*
  - Heading: **CHAPTER 2B-SECURITIES EXCHANGES**

