Texas Business and Commerce Code Sec. § 8.209 Issuer’s Lien A lien in favor of an issuer on a certificated security is valid against a purchaser only if the right of the issuer to the lien is noted conspicuously on the security certificate. Added by Acts 1995, 74th Leg., ch. 962, Sec. 1, eff. Sept. 1, 1996.