Montana § 35-2-514 Transfers

Montana Statutes

§ 35-2-514 — Transfers

Montana·Title 35 CORPORATIONS, PARTNERSHIPS, AND ASSOCIATIONS·Ch. 2 NONPROFIT CORPORATIONS·Part 5 Members -- Delegates -- Voting

35-2-514 . Transfers.

(1)Except as set forth in or authorized by the articles or bylaws, a member of a mutual benefit corporation may not transfer a membership or any right arising from a membership.

(2)A member of a public benefit or religious corporation may not transfer a membership or any right arising from a membership.

(3)When transfer rights have been provided, a restriction on them is not binding on 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.

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35-2-514 . Transfers. (1) Except as set forth in or authorized by the articles or bylaws, a member of a mutual benefit corporation may not transfer a membership or any right arising from a membership.
(2) A member of a public benefit or religious corporation may not transfer a membership or any right arising from a membership.
(3) When transfer rights have been provided, a restriction on them is not binding on 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.

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