There is a newer version of the New Mexico Statutes
2011 New Mexico Statutes
Chapter 55: Uniform Commercial Code
Article 8: Investment Securities, 55-8-101 through 55-8-511
Section 55-8-204: Effect of issuer's restriction on transfer.
NM Stat § 55-8-204 (1996 through 1st Sess 50th Legis) What's This?
55-8-204. 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.
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