11 §8-1204. Effect of issuer's restriction on transfer
Title 11: UNIFORM COMMERCIAL CODE
Article 8-A: INVESTMENT SECURITIES HEADING: PL 1997, C. 429, PT. B, §2 (NEW)
Part 2: ISSUE AND ISSUER HEADING: PL 1997, C. 429, PT. B, §2 (NEW)
§8-1204. Effect of issuer's restriction on transfer
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: [1997, c. 429, Pt. B, §2 (NEW).]
(1). The security is certificated and the restriction is noted conspicuously on the security certificate; or
[ 1997, c. 429, Pt. B, §2 (NEW) .]
(2). The security is uncertificated and the registered owner has been notified of the restriction.
[ 1997, c. 429, Pt. B, §2 (NEW) .]
SECTION HISTORY
1997, c. 429, §B2 (NEW).