GroundRules
CORP § 5320
Where this section sits in the code
- Corporations Code - CORP
- TITLE 1. CORPORATIONS [100. - 14707.]
- DIVISION 2. NONPROFIT CORPORATION LAW [5000. - 10841.]
- PART 2. NONPROFIT PUBLIC BENEFIT CORPORATIONS [5110. - 6910.]
- CHAPTER 3. Members [5310. - 5354.]
- ARTICLE 2. Transfer of Memberships [5320. - 5320.]
(a) Subject to Section 5613, and unless otherwise provided in the corporation’s articles or bylaws:
(1) No member may transfer a membership or any right arising therefrom.
(2) All rights of membership cease upon the member’s death or dissolution.
(b) Notwithstanding subdivision (a), no member may transfer for value a membership or any right arising therefrom.
(c) Notwithstanding subdivisions (a) and (b), this section does not prohibit or restrict the transfer, purchase, or sale of a membership in a limited equity housing cooperative, provided that the transfer, purchase, or sale is consistent with Section 33007.5 of the Health and Safety Code.
Collected 2026-09-14T05:56:33Z. Source file · JSON