Maine Revised Statutes

§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) .]
SECTION HISTORY
1997, c. 429, §B2 (NEW).