Effect of Issuer's Restriction on Transfer
Known as the Uniform Commercial Code
The act spans §§ 12A:1-101 to 12A:9-809 (506 sections).
L.1997,c.252,s.1.
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:
a. the security is certificated and the restriction is noted conspicuously on the security certificate; or
b. the security is uncertificated and the registered owner has been notified of the restriction.
Current official text: New Jersey Legislature. Digitized from the New Jersey Legislature bulk statutes download. Reproduced from public-domain New Jersey statutes; confirm against the official source for the current text. Not legal advice.