(A) A restriction on transfer of a security imposed by the issuer, even if otherwise lawful, is ineffective against a person without actual knowledge of it 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.
(B) A lien in favor of an issuer upon a certificated security is valid against a purchaser only if the right of the issuer to the lien is noted conspicuously on the security certificate.
Effective Date: 01-01-1998
Section: Previous 1308.04 1308.05 1308.06 1308.07 1308.08 1308.09 1308.10 1308.11 1308.12 1308.13 1308.14 1308.15 1308.16 1308.17 1308.18 NextLast modified: October 10, 2016