§ 8.8A-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
This law was first created in 1996. The record of its establishment is cataloged in chapter 216 of that year’s edition of “Acts of Assembly,” the annual state publication listing all changes made to the Code of Virginia in that year.
1996, c. 216.