The Florida Senate

678.2041  Effect of issuer's restriction on transfer.--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.

History.--s. 2, ch. 98-11.