Me. Stat. tit. 11 § 8-1204

Current through 131st (2023-2024) Legislature Chapter 634

Section 8-1204 - 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: [1997, c. 429, Pt. B, §2 (NEW).]

(1). The security is certificated and the restriction is noted conspicuously on the security certificate; or

[1997, c. 429, Pt. B, §2 (NEW).]

(2). The security is uncertificated and the registered owner has been notified of the restriction.

[1997, c. 429, Pt. B, §2 (NEW).]

11 M.R.S. § 8-1204

1997, c. 429, §B2 (NEW) .