Section 10-4-135 Membership - Withdrawal. - Alabama Statutes

Section 10-4-135

Membership - Withdrawal.

(a) Membership in the corporation shall be for the duration of the corporation; provided, that upon written notice given to the corporation five years in advance, a member may withdraw from membership in the corporation at the expiration date of such notice.

(b) A member shall not be obligated to make any loans to the corporation pursuant to calls made subsequent to notice of the intended withdrawal of said member.

(Acts 1969, No. 322, p. 681, §6.)