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.
Structure Maryland Statutes
Title 8 - Investment Securities
Section 8-202 - Issuer's Responsibility and Defenses; Notice of Defect or Defense
Section 8-203 - Staleness as Notice of Defects or Defense
Section 8-204 - Effect of Issuer's Restrictions on Transfer
Section 8-205 - Effect of Unauthorized Signature on Security Certificate
Section 8-206 - Completion or Alteration of Security Certificate
Section 8-207 - Rights of Issuer With Respect to Registered Owners
Section 8-208 - Effect of Signature of Authenticating Trustee, Registrar or Transfer Agent