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2018 Minnesota Statutes
Chapters 324 - 341 — TRADE REGULATIONS, CONSUMER PROTECTION
Chapter 336 — UNIFORM COMMERCIAL CODE
Section 336.8-204 — EFFECT OF ISSUER'S RESTRICTION ON TRANSFER.
Universal Citation: MN Stat § 336.8-204 (2018)
336.8-204 MS 1994 [Repealed, 1995 c 194 art 1 s 53] 336.8-204 EFFECT OF ISSUER'S RESTRICTION ON TRANSFER.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.
History: 1995 c 194 art 1 s 20
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