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La. R.S. 10:8-204

Effect of issuer's restriction on transfer

Added by Acts 1978, No. 165, §1, eff

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: Louisiana State Legislature. Reproduced from public-domain Louisiana statutes; confirm against the official source for the current text. Not legal advice.