2007 ORS 78.2040¹
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. [1961 c.726 §78.2040 (Effect of issuer's restriction on transfer); 1985 c.676 §78.2040 (Effect of issuer's restriction on transfer); 1995 c.328 §20]

1 Legislative Counsel Committee, CHAPTER 78—Investment Securities, https://­www.­oregonlegislature.­gov/­bills_laws/­ors/­078.­html (2007) (last ac­cessed Feb. 12, 2009).
2 OregonLaws.org contains the con­tents of Volume 21 of the ORS, inserted along­side the per­tin­ent statutes. See the preface to the ORS An­no­ta­tions for more information.
3 OregonLaws.org assembles these lists by analyzing references between Sections. Each listed item refers back to the current Section in its own text. The result reveals relationships in the code that may not have otherwise been apparent.