Section 8204.
Cal. Commercial Code - COM § 8204.
in effectA 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 either of the following applies:
(1)
The security is certificated and the restriction is noted conspicuously on the security certificate.
(2)
The security is uncertificated and the registered owner has been notified of the restriction.
Source: CA Legislative Counsel Bulk DataURL: https://downloads.leginfo.legislature.ca.gov/pubinfo_2025.zipFetched: 6/27/2026