(1) Unless otherwise provided by the bylaws, a member of a
nonprofit corporation may not transfer:
(a) a membership; or
(b) any right arising from a membership.
(2) Where transfer rights have been provided, a restriction on transfer rights may not be binding with respect to a member holding a membership issued prior to the adoption of the restriction, unless the restriction is approved by the affected member.
Enacted by Chapter 300, 2000 General Session