48-56-202 - Transfers. - Tennessee Statutes

48-56-202. Transfers.

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

(b)  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.

[Acts 1987, ch. 242, § 6.21.]