An association may charge initial membership fee and a fee for transfer of membership or capital, as may be authorized by the by-laws, but no such fee shall exceed twenty-five cents per share or per one hundred dollars of the account.
A.R.S. § 6-438
Authorized charges applicable to members
Official source: Arizona State Legislature. Reproduced from public-domain Arizona statutes; confirm against the official source for the current text. Not legal advice.