Md. Code Ann., Com. Law § 8-204 – Issuer's restrictions on transfer | Midpage
§ 8-204
Md. Code Ann., Com. Law § 8-204
Issuer's restrictions on transfer
Effective Oct 1, 1996Added by Acts 1996, c. 92, § 2, eff. Oct. 1, 1996.State of Maryland
(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.
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:
Added by Acts 1996, c. 92, § 2, eff. Oct. 1, 1996.