State Codes and Statutes

State Codes and Statutes

Statutes > Arizona > Title10 > 10-3611

10-3611. Transfers

A. Except as set forth in or authorized by the articles of incorporation or bylaws, no member of a corporation may transfer a membership or any right arising from that membership.

B. If transfer rights are provided, no restriction on them is binding with respect to 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.