Ohio Code 1745.31 – Membership interest not transferable
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Except as otherwise provided in the governing principles, any interest or right of the member under the governing principles is not transferable.
Terms Used In Ohio Code 1745.31
- Governing principles: means all agreements, whether oral, in a record, or implied from its established practices, or any combination of them, that govern the purpose or operation of an unincorporated nonprofit association and the rights and obligations of its members and managers. See Ohio Code 1745.05
- Member: means a person that, under the governing principles of an unincorporated nonprofit association, is entitled to participate in the selection of persons authorized to manage the affairs of the association or in the adoption of the policies and activities of the association. See Ohio Code 1745.05