181.0611 Transfers.
80 words·~1 min read·
/wi/chapter-181/181-0611-2A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
181.0611 Transfers.
(1)When authorized. Except as set forth in or authorized by the articles of incorporation or bylaws, a member of a corporation may not transfer a membership or any right arising from a membership.
(2)Adoption of restrictions. If transfer rights have been provided, no restriction on them shall be binding with respect to a member holding a membership issued before the adoption of the restriction unless the restriction is approved by the members and the affected member.