Nebraska Statutes 21-1942. Transfers
Current as of: 2024 | Check for updates
|
Other versions
(a) Except as set forth in or authorized by the articles or bylaws, no member of a mutual benefit corporation may transfer a membership or any right arising therefrom.
Terms Used In Nebraska Statutes 21-1942
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
(b) No member of a public benefit or religious corporation may transfer a membership or any right arising therefrom.
(c) When transfer rights have been provided, no restriction on them shall be 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.