State Codes and Statutes

Statutes > California > Corp > 5320

CORPORATIONS CODE
SECTION 5320



5320.  (a) Subject to Section 5613, and unless otherwise provided in
the corporation's articles or bylaws:
   (1) No member may transfer a membership or any right arising
therefrom.
   (2) All rights of membership cease upon the member's death or
dissolution.
   (b) Notwithstanding subdivision (a), no member may transfer for
value a membership or any right arising therefrom.
   (c) Notwithstanding subdivisions (a) and (b), this section does
not prohibit or restrict the transfer, purchase, or sale of a
membership in a limited equity housing cooperative, provided that the
transfer, purchase, or sale is consistent with Section 33007.5 of
the Health and Safety Code.


State Codes and Statutes

Statutes > California > Corp > 5320

CORPORATIONS CODE
SECTION 5320



5320.  (a) Subject to Section 5613, and unless otherwise provided in
the corporation's articles or bylaws:
   (1) No member may transfer a membership or any right arising
therefrom.
   (2) All rights of membership cease upon the member's death or
dissolution.
   (b) Notwithstanding subdivision (a), no member may transfer for
value a membership or any right arising therefrom.
   (c) Notwithstanding subdivisions (a) and (b), this section does
not prohibit or restrict the transfer, purchase, or sale of a
membership in a limited equity housing cooperative, provided that the
transfer, purchase, or sale is consistent with Section 33007.5 of
the Health and Safety Code.



State Codes and Statutes

State Codes and Statutes

Statutes > California > Corp > 5320

CORPORATIONS CODE
SECTION 5320



5320.  (a) Subject to Section 5613, and unless otherwise provided in
the corporation's articles or bylaws:
   (1) No member may transfer a membership or any right arising
therefrom.
   (2) All rights of membership cease upon the member's death or
dissolution.
   (b) Notwithstanding subdivision (a), no member may transfer for
value a membership or any right arising therefrom.
   (c) Notwithstanding subdivisions (a) and (b), this section does
not prohibit or restrict the transfer, purchase, or sale of a
membership in a limited equity housing cooperative, provided that the
transfer, purchase, or sale is consistent with Section 33007.5 of
the Health and Safety Code.