Transfers
In plain English: Addresses whether a member can transfer their membership or the rights that come with it. Unless the articles or bylaws allow it, a member cannot transfer a membership or any right arising from it. If transfers are allowed, a later restriction on transferring does not bind a member who already held their membership unless both the members and the affected member approve the restriction.
10-3611. Transfers
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.