Ohio Code 1308.11 – Effect of issuer’s restriction on transfer – UCC 8-204 – issuer’s lien – UCC 8-209
Current as of: 2023 | Check for updates
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(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:
Terms Used In Ohio Code 1308.11
- Lien: A claim against real or personal property in satisfaction of a debt.
- Person: includes an individual, corporation, business trust, estate, trust, partnership, and association. See Ohio Code 1.59
(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.