Md. Code, Com. § 8-204

Current with changes from the 2024 Legislative Session

Section 8-204 - Effect of issuer's restrictions 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.

Md. Code, CL § 8-204