A lien in favor of an issuer upon certificated security is valid against a purchaser only if the right of the issuer to the lien is noted conspicuously on the security certificate.

Oklahoma Code Comment

The concept of an issuer's lien is carried forward from pre-revision Section 8- 103. Section 8-209 provides for an issuer's lien, which is valid against a purchaser only if it is noted conspicuously on the security certificate. The Official Comment notes this is conceptually similar to Sections 8-202 and 8- 204, in that it limits the effectiveness of a restriction on transfer. This Section does not apply to uncertificated securities. Prior Statutory Provisions: 18 Okla. Stat. § 1.103 (1947). Pre-revision UCC § 8-103.

Laws 1995, SB 522, c. 242, § 25, eff. February 1, 1996.