2003 Minnesota Statutes

     317A.405 Transfer of membership. 

    (a) Except as provided in the articles or bylaws, a member 
 of a corporation may not transfer a membership or a right 
 arising from it. 

    (b) Where transfer rights have been provided, a restriction 
 on them is not binding with respect to a member holding a 
 membership issued before the adoption of the restriction unless 
 the restriction is approved by the members and the affected 
 member. 

    HIST: 1989 c 304 s 58