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The Legislative Service Commission staff updates the Revised Code on an ongoing basis, as it completes its act review of enacted legislation. Updates may be slower during some times of the year, depending on the volume of enacted legislation.

Section 1308.11 | Effect of issuer's restriction on transfer - UCC 8-204 - issuer's lien - UCC 8-209.

Ohio Revised Code
/
Title 13 Commercial Transactions
/
Chapter 1308 Investment Securities
 
Effective:
January 1, 1998
Latest Legislation:
House Bill 170 - 122nd General Assembly
PDF:
Download Authenticated PDF
 

(A) A restriction on transfer of a security imposed by the issuer, even if otherwise lawful, is ineffective against a person without actual knowledge of it 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.

(B) 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.

Available Versions of this Section