North Carolina General Statutes § 25-8-204 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:

(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. (1941, c. 353, s. 15; G.S., s. 55-95; 1955, c. 1371, s. 2; 1965, c. 700, s. 1; 1989, c. 588, s. 1; 1997-181, s. 1.)

Sections:  Previous  25-8-113  25-8-114  25-8-115  25-8-116  25-8-201  25-8-202  25-8-203  25-8-204  25-8-205  25-8-206  25-8-207  25-8-208  25-8-209  25-8-210  25-8-301  Next

Last modified: March 23, 2014