California Corporations Code 9320 – Subject to Section 9417:(a) No member may transfer for value a …
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Subject to Section 9417:
(a) No member may transfer for value a membership or any right arising therefrom; and
Terms Used In California Corporations Code 9320
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
(b) Unless otherwise provided in the corporation‘s articles or bylaws, all rights of membership cease upon the member’s death or dissolution.
(Amended by Stats. 1981, Ch. 587, Sec. 50.)