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2009 California Corporations Code - Section 9320 :: Article 2. Transfer Of Memberships

CORPORATIONS CODE
SECTION 9320 

9320.  Subject to Section 9417:
   (a) No member may transfer for value a membership or any right
arising therefrom; and
   (b) Unless otherwise provided in the corporation's articles or
bylaws, all rights of membership cease upon the member's death or
dissolution.

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