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.
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.