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§ 11-8-204 - Effect of issuer's restriction on transfer

O.C.G.A. 11-8-204 (2010)
11-8-204. 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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