Okla. Stat. tit. 12A § 8-209

Current through Laws 2024, c. 453.
Section 8-209 - Issuer's Lien

A lien in favor of an issuer upon certificated security is valid against a purchaser only if the right of the issuer to the lien is noted conspicuously on the security certificate.

Okla. Stat. tit. 12A, § 8-209

Added by Laws 1995, SB 522, c. 242, § 25, eff. 2/1/1996.

Oklahoma Code Comment

The concept of an issuer's lien is carried forward from pre-revision Section 8- 103 . Section 8-209 provides for an issuer's lien, which is valid against a purchaser only if it is noted conspicuously on the security certificate. The Official Comment notes this is conceptually similar to Sections 8-202 and 8- 204, in that it limits the effectiveness of a restriction on transfer. This Section does not apply to uncertificated securities.

Prior Statutory Provisions:

18 Okla. Stat. § 1.103 (1947).

Pre-revision UCC § 8-103.