SEC. 79-11-179. Transfer of membership or right arising therefrom.
(1) Except as set forth or authorized by the articles or bylaws, no member of a corporation may transfer a membership or any right arising therefrom.
(2) Where 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.
SOURCES: Laws, 1987, ch. 485, Sec. 40, eff from and after January 1, 1988.