28-8-204. 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) 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:
[28-8-204, added 1995, ch. 272, sec. 2, p. 887.]
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