Mass. Gen. Laws ch. 106 § 8-204

Current through Chapter 223 of the 2024 Legislative Session

Section 106:8-204 - 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.

Mass. Gen. Laws ch. 106, § 8-204