Sec. 45.08.204. Effect of issuer's restriction on transfer.
63 words·~1 min read·
/ak/title-45/chapter-8/45-08-204A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Sec. 45.08.204. Effect of issuer's restriction on transfer.
A restriction on transfer of a security imposed by the issuer, even though otherwise lawful, is ineffective against a person without knowledge of the restriction unless the security
(1)is certificated and the restriction is noted conspicuously on the security certificate; or
(2)is uncertificated and the registered owner has been notified of the restriction.