Code of Virginia § 8.8A-204. Effect of issuer's restriction on transfer.
61 words·~1 min read·
/va/chapter-2/8-8a-204A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
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.
1996, c. 216 .