A lien in favor of an issuer upon a certificated security is valid against a purchaser only if the right of the issuer to the lien is noted conspicuously on the security certificate.
N.D. Cent. Code § 41-08-25
(8-209) Issuer's lien
Known as the Uniform Commercial Code
The act spans §§ 41–41 (597 sections).
Official source: North Dakota Legislative Branch. Reproduced from public-domain North Dakota statutes; confirm against the official source for the current text. Not legal advice.