10-3611. Transfers
71 words·~1 min read·
/az/title-10/10-3611A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
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.