Section 10:8-204 - Effect of issuer's restriction on transferA 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.Added by Acts 1978, No. 165, §1, eff. 1/1/1979. Acts 1989, No. 135, §6, eff. 1/1/1990; Acts 1995, No. 884, §1, eff. 1/1/1996.