Tex. Bus. & Com. Code § 8.204 · Subchapter B. ISSUE AND ISSUER
EFFECT OF ISSUER'S RESTRICTION ON TRANSFER.
Text — Current through the 89th 2nd Called Legislative Session, 2025
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:
(1) the security is certificated and the restriction is noted conspicuously on the security certificate; or
(2) the security is uncertificated and the registered owner has been notified of the restriction.
Notes and commentary — not statutory text
History
Amended by Acts 1995, 74th Leg., ch. 962, Sec. 1, eff. Sept. 1, 1995.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/BC/htm/BC.8.htm
- Text hash
- sha256 792f5e48ebd6e3ffb665f094c45821481891353865f0a5c883130547cebe2c7f
- Composed by
- compose_tx.py 2026-10-05: the Legislative Council's chapter files read in document order; verify_tx.py's independent reading (lxml DOM walk) agrees character for character
Cited by 1 provision
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Business & Commerce Code
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