California Commercial Code

§ 8204

COM § 8204 Effective Jan 1, 1997Div. 8 · Ch. 2

Statute text

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 either of the following applies:

(1)The security is certificated and the restriction is noted conspicuously on the security certificate.

(2)The security is uncertificated and the registered owner has been notified of the restriction.

Legislative history

Repealed and added by Stats. 1996, Ch. 497, Sec. 9. Effective January 1, 1997.