2014 Statute
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84-8-204. 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: (a) The security is certificated and the restriction is noted conspicuously on the security certificate; or (b) the security is uncertificated and the registered owner has been notified of the restriction. |
History: L. 1996, ch. 202, § 47; July 1. |
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