{"data":{"id":"us-me/11-m.r.s.-8-1204","jurisdiction":"us-me","citation":"11 M.R.S. §8-1204","heading":"Effect of issuer's restriction on transfer","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":["TITLE 11: UNIFORM COMMERCIAL CODE","PART 2: ISSUE AND ISSUER"],"source_url":"https://legislature.maine.gov/statutes/11/title11sec8-1204.html","current_through":"October 1, 2025","vintage":"","retrieved_at":"2026-09-04T15:12:25Z","sha256":"a02d797a4768f0db3f9b04d9bfdec9dcf4bdad3d1f4c5233883ac8fd1859e79f","source_id":"us-me","stale":false,"prev":"us-me/11-m.r.s.-8-1203","next":"us-me/11-m.r.s.-8-1205"},"notice":"GroundRules: Original legal text. Not legal advice."}