§ 8209 Issuer Lien Notation Requirement

• •If someone owes money on a stock or bond certificate, the company can put a lien on it.
• •The lien is only valid if it's clearly written on the certificate itself.
• •If the lien isn't written on the certificate, the company can't enforce it against someone who buys the certificate.

You buy a stock certificate from your friend, but your friend still owes money to the company that issued the stock.

If the company wants to take the stock because of the debt, they can only do it if the debt is clearly written on the stock certificate. If it's not written there, the company can't take the stock from you.