{"data":{"id":"us-md/md.-code-commercial-law-8-204","jurisdiction":"us-md","citation":"Md. Code, Commercial Law § 8–204","heading":"","body":"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:\n(1) The security is certificated and the restriction is noted conspicuously on the security certificate; or\n(2) The security is uncertificated and the registered owner has been notified of the restriction.","path":["Article - Commercial Law"],"source_url":"https://mgaleg.maryland.gov/mgawebsite/Laws/StatuteText?article=gcl\u0026section=8-204","current_through":"2026-01-01","vintage":"","retrieved_at":"2026-09-14T19:56:33Z","sha256":"04e02c537ed6a3a5ab0e458fbeff77c0e4735738ef8604cf38cacf58a6dd13ae","source_id":"us-md","stale":false,"prev":"us-md/md.-code-commercial-law-8-203","next":"us-md/md.-code-commercial-law-8-205"},"notice":"GroundRules: Original legal text. Not legal advice."}