Md. Code, Com. Law § 8-204

Maryland · Maryland Code, Commercial Law · Status: effective

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Citation: Md. Code, Com. Law § 8-204, Maryland, version 1 as recorded 2026-09-28, yourstate.us, https://yourstate.us/provision/1757550
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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.