70-716. Membership certificate; issuance; transfer; conditions.
89 words·~1 min read·
/ne/chapter-70/70-716A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
When a member of a corporation has paid the membership fee in full, a certificate of membership shall be issued to such member. After such membership fee has been paid in full, memberships and certificates in the corporation shall be transferable upon the books of the corporation to other persons eligible for membership in such corporation; Provided, that, five days before the transfer thereof, such membership, and certificate, has been offered for redemption to the corporation at its book value and such corporation has refused to purchase the same.