810 ILCS 5/8-204

Current through Public Act 103-1052

Section 810 ILCS 5/8-204 - 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.

810 ILCS 5/8-204

P.A. 89-364, eff. 1/1/1996.