Public-domain · open source
OpenJurist

S.C. Code Ann. § 33-31-611

Transfers

Known as the South Carolina Nonprofit Corporation Act

The act spans §§ 33-31-1001 to 33-31-858 (186 sections).

1994 Act No. 384, SECTION 1.

(a) 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.

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

(c) Where transfer rights have been provided, no restriction on them is 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: South Carolina Legislature. Reproduced from public-domain South Carolina statutes; confirm against the official source for the current text. Not legal advice.