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Texas Business & Commerce Code - Section 8.204. Effect Of Issuer's Restriction On Transfer

Legal Research Home > Texas Lawyer > Business & Commerce Code > Texas Business & Commerce Code - Section 8.204. Effect Of Issuer's Restriction On Transfer

§ 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.

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

Last modified: August 10, 2007