resources / Statutes / Nonprofit Corporations / §10-3611
Title 10 – Corporations and Associations
Chapter 29 – Members and Membership-nonprofit Corporations
Article 2 – Types of Memberships-members’ Rights and Obligations
- A. Except as set forth in or authorized by the articles of incorporation or bylaws, no member of a corporation may transfer a membership or any right arising from that membership.
- B. If transfer rights are provided, no restriction on them is binding with respect to a member holding a membership issued prior to the adoption of the restriction unless the restriction is approved by the members and the affected member.