{"data":{"id":"us-sd/sdcl-57a-8-204","jurisdiction":"us-sd","citation":"SDCL § 57A-8-204","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.\nSource: SL 1998, ch 284, § 1.","path":["TITLE 57A. UNIFORM COMMERCIAL CODE","CHAPTER 57A-8. INVESTMENT SECURITIES"],"source_url":"https://sdlegislature.gov/Statutes/57A-8-204","current_through":"2026-08-31","vintage":"","retrieved_at":"2026-09-03T15:18:57Z","sha256":"0dff125e1f4f13bf0a0e7dc0c2f800b52e5f8b39f7915d130b950e8d1ebbea4a","source_id":"us-sd","stale":true,"prev":"us-sd/sdcl-57a-8-203","next":"us-sd/sdcl-57a-8-205"},"notice":"GroundRules: Original legal text. Not legal advice."}