Arizona Revised Statutes (Last Updated: March 31, 2016) |
Title 47. Uniform Commercial Code |
Chapter 8. INVESTMENT SECURITIES |
Article 2. Issue and Issuer |
Sec 47-8204. Effect of issuer's restriction on transfer
Latest version.
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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.