Code of Virginia (Last Updated:July 28, 2020) |
TITLE 8.8A. Commercial Code - Investment Securities |
PART 2. Issue and Issuer |
SECTION 8.8A-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. 1996, c. 216 . |