UTAH CODE (Last Updated: January 16, 2015) |
Title 70A. Uniform Commercial Code |
Chapter 8. Uniform Commercial Code - Investment Securities |
Part 2. Issue and Issuer |
§ 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Repealed and Re-enacted by Chapter 204, 1996 General Session