79-11-179 - Transfer of membership or right arising therefrom. - Mississippi Statutes

§ 79-11-179. Transfer of membership or right arising therefrom.
 

(1)  Except as set forth or authorized by the articles or bylaws, no member of a corporation may transfer a membership or any right arising therefrom. 

(2)  Where transfer rights have been provided, no restriction on them shall be binding with respect to a member holding a membership issued prior to the adoption of the restriction unless the restriction is approved by the members and the affected member. 
 

Sources: Laws,  1987, ch. 485, § 40, eff from and after January 1, 1988.