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Form a Business

Restriction on transfer of security.

MCL 440.8204
in effect
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440.8204. Restriction on transfer of security. Sec. 8204. A restriction on transfer of a security imposed by the issuer, even though otherwise lawful, is ineffective against a person without knowledge of the restriction unless: (a) The security is certificated and the restriction is noted conspicuously on the certificate. (b) The security is uncertificated and the registered owner has been notified of the restriction. 1962, Act 174, Eff. Jan. 1, 1964; Am. 1987, Act 16, Imd. Eff. Apr. 24, 1987; Am. 1998, Act 278, Imd. Eff. July 27, 1998
Source: Michigan Legislature (legislature.mi.gov)URL: https://legislature.mi.gov/Laws/MCL?objectName=mcl-440-8204Fetched: 10/20/2026

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