(a) Except as otherwise provided in the articles of incorporation or bylaws, a member of a membership corporation shall not transfer a membership or any right arising therefrom.
(b) If the right to transfer a membership has been provided, a restriction on that right shall not be binding with respect to a member holding a membership issued before the adoption of the restriction unless the restriction is approved by the affected member.
(July 2, 2011, D.C. Law 18-378, § 2, 58 DCR 1720.)
Structure District of Columbia Code
Title 29 - Business Organizations. [Enacted title]
Chapter 4 - Nonprofit Corporations
Subchapter IV - Memberships and Financial Provisions
Part B - Rights and Obligations of Members
§ 29–404.10. Differences in rights and obligations of members
§ 29–404.12. Member’s liability to third parties
§ 29–404.13. Member’s liability for dues, assessments, and fees