13.1-837 - Members. - Virginia Statutes

§ 13.1-837. Members.

A corporation may have one or more classes of members or may have no members.If the corporation has one or more classes of members, the designation ofsuch class or classes and the qualifications and rights of the members ofeach class shall be set forth in the articles of incorporation or, if thearticles of incorporation so provide, in the bylaws. A corporation may issuecertificates evidencing membership interests therein. Membership interestsshall not be transferable. Members shall not have voting or other rightsexcept as provided in the articles of incorporation or if the articles ofincorporation so provide, in the bylaws. Members of any corporation existingon January 1, 1957, shall continue to have the same voting and other rightsas before January 1, 1957, until changed by amendment of the articles ofincorporation.

(Code 1950, § 13.1-211; 1956, c. 428; 1958, c. 564; 1982, c. 182; 1985, c.522; 2007, c. 925.)