Washington Code 24.03A.350 – Transfers of membership
Current as of: 2023 | Check for updates
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(1) Except as provided in the articles or bylaws or by resolution of the board, a member of a membership corporation may not transfer a membership or any right arising therefrom.
Terms Used In Washington Code 24.03A.350
- 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.
(2) Where the right to transfer a membership has been provided, a restriction on that right shall not be binding with respect to a member holding a membership issued before the adoption of the restriction unless the affected member consents to the restriction in the form of a record.
NOTES:
Effective date—2021 c 176: See note following RCW 24.03A.005.