Statute · New York Uniform Commercial Code
N.Y. U.C.C. Law § 8-204 — Effect of Issuer's Restriction on Transfer
N.Y. U.C.C. Law § 8-204
- Type
- Statute
- Source
- New York Uniform Commercial Code
- Jurisdiction
- New York
- Current through
- Nov 5, 2026 (NY Senate Open Legislation)
Section 8--204. Effect of Issuer's Restriction on Transfer.
Citator
N.Y. U.C.C. Law § 8-204 — Effect of Issuer's Restriction on Transfer is in force in the current edition of the Code, and nothing recorded condemns it.
Section 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; or
(3) the restriction is on the transfer of a cooperative interest and the restriction is set forth in the cooperative record.