§ 8-204. Effect of issuer's restrictions on transfer

Latest version.

   A restriction on transfer of a security imposed by the issuer, even if otherwise lawful, is ineffective against a person without knowledge of the restriction unless:

   (1) The security is certificated and the restriction is noted conspicuously on the security certificate; or

   (2) The security is uncertificated and the registered owner has been notified of the restriction.

HISTORY: 1996, ch. 92, § 2.

                    
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