Ca_Law

statute | California

Corporations Code - CORP - CORP § 5320

  • UIDca_leginfo_codes:corp-5320
  • CitationCorporations Code - CORP - CORP § 5320
  • Court / bodyCalifornia Legislative Counsel
  • Decision dateN/A
  • CollectionPUBINFO_2025
  • SourceOriginal

Summary

(a) Subject to Section 5613, and unless otherwise provided in the corporation’s articles or bylaws: (1) No member may transfer a membership or any right arising therefrom. (2) All rights of membership cease upon the member’s death or dissolution. (b) Notwithstanding subdivision (

Text

(a)
Subject to Section 5613, and unless otherwise provided in the corporation’s articles or bylaws:
(1)
No member may transfer a membership or any right arising therefrom.
(2)
All rights of membership cease upon the member’s death or dissolution.
(b)
Notwithstanding subdivision (a), no member may transfer for value a membership or any right arising therefrom.
(c)
Notwithstanding subdivisions (a) and (b), this section does not prohibit or restrict the transfer, purchase, or sale of a membership in a limited equity housing cooperative, provided that the transfer, purchase, or sale is consistent with Section 33007.5 of the Health and Safety Code.

Retrieval chunks

  • #1 | Corporations Code - CORP - CORP § 5320

    (a) Subject to Section 5613, and unless otherwise provided in the corporation’s articles or bylaws: (1) No member may transfer a membership or any right arising therefrom. (2) All rights of membership cease upon the member’s death or dissolution. (b) Notwithstanding subdivision (a), no member may transfer for v…