§ 8—204.
77 words·~1 min read·
/vt/8-20A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§ 8—204. 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. (Added 1995, No. 92 (Adj. Sess.), § 1, eff. Jan. 1, 1997.)