Illinois Compiled Statutes 810 ILCS 5/8-204 – Effect of issuer’s restriction on transfer
Current as of: 2024 | Check for updates
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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
(1) the security is certificated and the restriction
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is noted conspicuously on the security certificate; or
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(2) the security is uncertificated and the registered
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owner has been notified of the restriction.
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