(8-204) Effect of issuer's restriction on transfer

N.D. Cent. Code § 41-08-20
in effect
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41-08-20. (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.
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://ndlegis.gov/cencode/t41c08.pdf#nameddest=41-08-20Fetched: 10/16/2026

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