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D.C. Code § 28:8-204

Effect of issuer’s restriction on transfer

Known as the Uniform Commercial Code

The act spans §§ 28–28 (639 sections).

Dec. 30, 1963, 77 Stat. 735, Pub

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.

Official source: D.C. Law Library (Council of the District of Columbia). Reproduced from public-domain District of Columbia statutes; confirm against the official source for the current text. Not legal advice.