Section 55-8-204 - Effect of issuer's restriction on transfer. - New Mexico Statutes

55-8-204. 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.