The capital stock of each association must be divided into shares of not less than ten dollars each and is deemed personal property and transferable on the books of the association in such manner as may be prescribed by its bylaws or articles of incorporation. A transfer of shares is not valid except between the parties to the transfer until the transfer is entered upon the books of the association and is not valid against the association or any creditor of the association while the registered holder of the shares is indebted to the bank as principal debtor, surety, guarantor, or otherwise. No dividend, interest, or profit may be paid on any stock of the bank or bank holding company as long as any past-due liability of the shareholder continues, but such dividend, interest, or profit must be retained by the association and applied to the discharge of the past-due liability. Every person or corporation becoming a shareholder by any transfer shall succeed, in proportion to the shares acquired by that shareholder, to all rights and liabilities of prior holders of the shares existing by reason of ownership of the shares and no change may be made in the articles of incorporation or bylaws of the association by which the rights, remedies, or security of its existing creditors shall be impaired.