Section 382-A: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.
Source. 1998, 326:1, eff. Jan. 1, 1999.