Statute · California Corporations Code
Cal. Corp. Code § 7320 — Transfer of Memberships
Cal. Corp. Code § 7320
- Type
- Statute
- Source
- California Corporations Code
- Jurisdiction
- California
- Current through
- Nov 2, 2026 (California Legislative Counsel)
Subject to Section 7613:
Citator
Cal. Corp. Code § 7320 — Transfer of Memberships is in force in the current edition of the Code, and nothing recorded condemns it.
Subject to Section 7613:
(a) Unless the articles or bylaws otherwise provide:
(1) No member may transfer a membership or any right arising therefrom; and
(2) Subject to the provisions of subdivision (b), all rights as a member of the corporation cease upon the member’s death or dissolution.
(b) The articles or bylaws may provide for, or may authorize the board to provide for, the transfer of memberships, or of memberships within any class or classes, with or without restriction or limitation, including transfer upon the death, dissolution, merger, or reorganization of a member.
(c) Where transfer rights have been provided, no restriction of them shall be binding with respect to memberships issued prior to the adoption of the restriction, unless the holders of such memberships voted in favor of the restriction.