---
title: O.C.G.A. § 11-8-204. Effect of issuer’s restriction on transfer.
collection: code
id: 11-8-204
cite_as: O.C.G.A. § 11-8-204 (2025)
canonical_url: https://georgiacommons.org/code/11-8-204
md_url: https://georgiacommons.org/code/11-8-204.md
text_url: https://georgiacommons.org/code/11-8-204/text
source_url: https://www.legis.ga.gov/api/document/docs/default-source/joint-features-document-library/t11-(v9)-2022-pdf.pdf?sfvrsn=b5451bbd_0#page=675
date: 2025
status: active
corpus_version: 2025-supplement-89aa39ab3c68
license: CC0-1.0
publisher: Georgia Commons, an independent project of Georgia Civic Data. Not the State of Georgia. Not legal advice.
up: https://georgiacommons.org/code/11-8.md
previous: https://georgiacommons.org/code/11-8-203.md
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index: https://georgiacommons.org/code/index.md
version: the only printed version
in_force: true
current_through: Including Acts of the 2025 Regular Session of the General Assembly
heading_path: COMMERCIAL CODE / INVESTMENT SECURITIES / ISSUE AND ISSUER
---

# O.C.G.A. § 11-8-204. 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

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).