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.
History: En. Sec. 49, 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
35-2-516. 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