30-8-214. Effect of issuer's restriction on transfer. 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.
History: En. Sec. 40, Ch. 536, L. 1997.
Structure Montana Code Annotated
Chapter 8. Uniform Commercial Code Investment Securities
30-8-209. and 30-8-210 reserved
30-8-212. Issuer's responsibility and defenses -- notice of defect or defense
30-8-213. Staleness as notice of defect or defense
30-8-214. Effect of issuer's restriction on transfer
30-8-215. Effect of unauthorized signature on security certificate
30-8-216. Completion of alteration of security certificate
30-8-217. Rights and duties of issuer with respect to registered owners
30-8-218. Effect of signature of authenticating trustee, registrar, or transfer agent