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Ark. Code Ann. § 4-33-611

Transfers

Known as the Arkansas Nonprofit Corporation Act

The act spans §§ 4–4 (189 sections).

Acts 1993, No. 1147, § 611.

(1) 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.

(2) No member of a public benefit or religious corporation may transfer a membership or any right arising therefrom.

(3) 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.

Current official text: Arkansas General Assembly. Digitized from the UniCourt Code Improvement Commission public-domain capture. Reproduced from public-domain Arkansas statutes; confirm against the official source for the current text. Not legal advice.