30-8-214. Effect of issuer's restriction on transfer, MCA

Montana Code Annotated 2017

TITLE 30. TRADE AND COMMERCE

CHAPTER 8. UNIFORM COMMERCIAL CODE INVESTMENT SECURITIES

Part 2. Issue and Issuer

Effect Of Issuer's Restriction On Transfer

30-8-214. 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.

History: En. Sec. 40, Ch. 536, L. 1997.