Sec 47-8204. Effect of issuer's restriction on transfer  


Latest version.
  • 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.