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Texas Business & Commerce Code

§ 8.204 — EFFECT OF ISSUER'S RESTRICTION ON TRANSFER

BC § 8.204Title 1. UNIFORM COMMERCIAL CODE · Ch. 8. INVESTMENT SECURITIES · Art. B. ISSUE AND ISSUER

Statute text

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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.

Legislative history

Amended by Acts 1995, 74th Leg., ch. 962, Sec. 1, eff. Sept. 1, 1995.

Source: Texas Business & Commerce Code § 8.204 from the Texas Constitution and Statutes (Texas Legislature) (public record). DecisionDepot is for informational use only and is not legal advice — verify against the official source before relying on this text.