Del. Code tit. 6 § 8-204

Current through 2024 Legislative Session Act Chapter 531

Section 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.

6 Del. C. § 8-204

5A Del. C. 1953, § 8-204; 55 Del. Laws, c. 349; 64 Del. Laws, c. 152, §6; 71 Del. Laws, c. 75, § 1.;