Montana § 35-2-522 Purchase Of Memberships

Montana Statutes

§ 35-2-522 — Purchase Of Memberships

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

35-2-522 . Purchase of memberships.

(1)A public benefit corporation or religious corporation may not purchase any of its memberships or any right arising from membership.

(2)A mutual benefit corporation may purchase the membership of a member who resigns or whose membership is terminated for the amount and pursuant to the conditions set forth in or authorized by its articles or bylaws. A payment may not be made in violation of 35-2-1401 and 35-2-1402 .

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35-2-522 . Purchase of memberships. (1) A public benefit corporation or religious corporation may not purchase any of its memberships or any right arising from membership.
(2) A mutual benefit corporation may purchase the membership of a member who resigns or whose membership is terminated for the amount and pursuant to the conditions set forth in or authorized by its articles or bylaws. A payment may not be made in violation of 35-2-1401 and 35-2-1402 .

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