2003 Minnesota Statutes

  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. 

    HIST: 1995 c 194 art 1 s 20