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Uniform Commercial Code | |
Uniform Commercial Code - Investment Securities | |
Section 204 | Effect of issuer's restriction on transfer. |
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70A-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) 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Repealed and Re-enacted by Chapter 204, 1996 General Session |
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