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.
History: En. Sec. 43, Ch. 411, L. 1991.
Structure Montana Code Annotated
Title 35. Corporations, Partnerships, and Associations
Chapter 2. Nonprofit Corporations
Part 5. Members -- Delegates -- Voting
35-2-512. No requirement of members
35-2-513. Differences in rights and obligations of members
35-2-514. Transfers
35-2-516. Member's liability to third parties
35-2-517. Member's liability for dues, assessments, and fees
35-2-518. Creditor's action against member
35-2-520. Termination, expulsion, and suspension
35-2-522. Purchase of memberships
35-2-525. Homeowners association -- remote meetings
35-2-526. Annual and regular meetings
35-2-528. Court-ordered meeting
35-2-529. Action by written consent
35-2-532. Record date -- determining members entitled to notice and vote
35-2-533. Action by written ballot
35-2-535. Members' list for meeting
35-2-536. Voting entitlement generally
35-2-540. Cumulative voting for directors -- exception
35-2-541. Other methods of electing directors
35-2-542. Corporation's acceptance of votes
35-2-544. through 35-2-549 reserved
35-2-550. Unincorporated homeowners' association -- remote meetings