Statute · California Corporations Code
Cal. Corp. Code § 5320 — Transfer of Memberships
Cal. Corp. Code § 5320
- Type
- Statute
- Source
- California Corporations Code
- Jurisdiction
- California
- Date
- 1993-01-01
- Current through
- Nov 2, 2026 (California Legislative Counsel)
(a) Subject to Section 5613, and unless otherwise provided in the corporation’s articles or bylaws:
Citator
Cal. Corp. Code § 5320 — Transfer of Memberships is in force in the current edition of the Code, and nothing recorded condemns it.
(a) Subject to Section 5613, and unless otherwise provided in the corporation’s articles or bylaws:
(1) No member may transfer a membership or any right arising therefrom.
(2) All rights of membership cease upon the member’s death or dissolution.
(b) Notwithstanding subdivision (a), no member may transfer for value a membership or any right arising therefrom.
(c) Notwithstanding subdivisions (a) and (b), this section does not prohibit or restrict the transfer, purchase, or sale of a membership in a limited equity housing cooperative, provided that the transfer, purchase, or sale is consistent with Section 33007.5 of the Health and Safety Code.