2017 New Jersey Revised Statutes
TITLE 12A - COMMERCIAL TRANSACTIONS
Section 12A:8-204 - Effect of Issuer's Restriction on Transfer.
12A: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:
a. the security is certificated and the restriction is noted conspicuously on the security certificate; or
b. the security is uncertificated and the registered owner has been notified of the restriction.