§ 70A-8-204. 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.
Repealed and Re-enacted by Chapter 204, 1996 General Session