Title 7 – Corporations and Associations
Article 126 – Members and Memberships
Transfers
7-126-202. Transfers
(1) Unless otherwise provided by the bylaws, no member of a nonprofit corporation may transfer a membership or any right arising therefrom.
(2) Where transfer rights have been provided, no restriction on them shall be binding with respect to a member holding a membership issued prior to the adoption of the restriction unless the restriction is approved by the affected member.
History
Source: L. 97: Entire article added, p. 671, § 3, effective July 1, 1998.