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Official Code of Georgia Annotated

Title 11. COMMERCIAL CODE · Chapter 8. · Article 8. INVESTMENT SECURITIES · Part 2. ISSUE AND ISSUER

11-8-204. Effect of issuer’s restriction on transfer.

Active

Current through: Including Acts of the 2025 Regular Session of the General Assembly.

  1. 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:

  2. (1)

    The security is certificated and the restriction is noted conspicuously on the security certificate; or#

  3. (2)

    The security is uncertificated and the registered owner has been notified of the restriction.#

The notes below are printed with the section but are not enacted law (O.C.G.A. § 1-1-1(c)). They are shown apart from the text.

History

Code 1981, § 11-8-204, enacted by Ga. L. 1998, p. 1323, § 1.

Law reviews

For article, “Restricting the Transferability of Stock in Georgia Corporations,” see 5 Mercer L. Rev. 242 (1954).

Read the official page (the state's PDF, opened at the page this text was read from).

Current through: Including Acts of the 2025 Regular Session of the General Assembly.

Text read from t11-(v9)-2022-pdf.pdf, Volume V9, 2022 edition, page 675; merge action: carried; file SHA-256 ad397fccbf21.