Effect of issuer’s restriction on transfer

Wis. Stat. § 408.204
in effect
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A restriction on the 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.
Source: WI Statutes (Official Site)URL: https://docs.legis.wisconsin.gov/document/statutes/408.204Fetched: 10/7/2026
Wis. Stat. § 408.204 — Effect of issuer’s restriction on transfer | Wisconsin Statutes (updated through 2025 Wis. Act 247) | Corpus