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Minn. Stat. § 317A.405

TRANSFER OF MEMBERSHIP.

Known as the Minnesota Nonprofit Corporation Act

The act spans §§ 317–317 (134 sections).

1989 c 304 s 58

(a) Except as provided in the articles or bylaws, a member of a corporation may not transfer a membership or a right arising from it.

(b) Where transfer rights have been provided, a restriction on them is not binding with respect to a member holding a membership issued before the adoption of the restriction unless the restriction is approved by the members and the affected member.

Official source: Minnesota Office of the Revisor of Statutes. Reproduced from public-domain Minnesota statutes; confirm against the official source for the current text. Not legal advice.