If authorized in its articles or bylaws, a corporation may buy the membership of a member who resigns or whose membership is terminated for the amount and pursuant to the conditions in the articles or bylaws.
Minn. Stat. § 317A.413
PURCHASE OF MEMBERSHIPS.
Known as the Minnesota Nonprofit Corporation Act
The act spans §§ 317–317 (134 sections).
1989 c 304 s 62
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.