Effect of issuer's restrictions on transfer
Known as the Uniform Commercial Code
The act spans §§ 355.10-101 to 355.9-809 (686 sections).
Effective: January 1, 1997 History: Repealed and reenacted 1996 Ky
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: Kentucky General Assembly. Reproduced from public-domain Kentucky statutes; confirm against the official source for the current text. Not legal advice.