16-6a-606.   Transfers.
     (1) Unless otherwise provided by the bylaws, a member of a nonprofit corporation may not transfer:
     (a) a membership; or
     (b) any right arising from a membership.
     (2) Where transfer rights have been provided, a restriction on transfer rights may not 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.

Enacted by Chapter 300, 2000 General Session
Download Code Section Zipped WordPerfect 16_06a060600.ZIP 1,697 Bytes

Sections in this Chapter|Chapters in this Title|All Titles|Legislative Home Page

Last revised: Thursday, May 28, 2009