Tenn. Code § 47-8-204

Current through Acts 2023-2024, ch. 1069

Section 47-8-204 - 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.

T.C.A. § 47-8-204

Acts 1997, ch. 79, § 1.