(810 ILCS 5/8-204) (from Ch. 26, par. 8-204)
Sec. 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
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(2) the security is uncertificated and the registered
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| owner has been notified of the restriction.
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(Source: P.A. 89-364, eff. 1-1-96.)
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