As Amended
SEC. 79-5-17. Duration of membership; withdrawal; calls for loans subsequent to withdrawal.
Membership in the corporation shall be for the duration of the corporation; provided:
Upon ninety (90) days written notice given to the corporation, a member may withdraw from membership therein. Upon such withdrawal by a member, the corporation shall have the option to immediately prepay without penalty any indebtedness then owing such member.
A member shall not be obligated to make any loans to the corporation pursuant to calls made subsequent to the withdrawal of the member.
SOURCES: Codes, 1942, Sec. 5390-09; Laws, 1960, ch. 186, Sec. 9, eff from and after passage (approved March 23, 1960).