TITLE 6A
Uniform Commercial Code

CHAPTER 6A-8
Investment Securities

PART 6A-8-201
Issue and Issuer

SECTION 6A-8-204


§ 6A-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.

History of Section.
(P.L. 2000, ch. 182, § 5; P.L. 2000, ch. 420, § 5.)