Section 45.08.204. Effect of issuer's restriction on transfer.

Latest version.

A restriction on transfer of a security imposed by the issuer, even though otherwise lawful, is ineffective against a person without knowledge of the restriction unless the security
        (1) is certificated and the restriction is noted conspicuously on the security certificate; or
        (2) is uncertificated and the registered owner has been notified of the restriction.

Authorities

45.08.401

Notes

References

AS 45.08.401 Duty of issuer to register transfer.

History

(Sec. 8.204 ch 114 SLA 1962; am Sec. 15 ch 49 SLA 1990; am Sec. 21 ch 17 SLA 1996)

                    
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