30-8-214. Effect of issuer's restriction on transfer.
65 words·~1 min read·
/mt/title-30/chapter-8/part-2/30-8-214·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
30-8-214 . 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:
(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.