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ORS 78.2040

Known as the Uniform Commercial Code

The act spans §§ 78–78 (66 sections).

1961 c.726 §78.2040; 1985 c.676 §78.2040; 1995 c.328 §20

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