Section 8--204. Effect of Issuer's Restriction on Transfer.\n A restriction on transfer of a security imposed by the issuer, even if\notherwise lawful, is ineffective against a person without knowledge of\nthe restriction unless:\n (1) the security is certificated and the restriction is noted\nconspicuously on the security certificate; or\n (2) the security is uncertificated and the registered owner has been\nnotified of the restriction; or\n (3) the restriction is on the transfer of a cooperative interest and\nthe restriction is set forth in the cooperative record.\n
‹ Prev All New York sections Next ›
Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.