Corp. Code, § 5320 · Article 2. Transfer of Memberships
Corp. Code, § 5320
Text — As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
(a) Subject to Section 5613, and unless otherwise provided in the corporation’s articles or bylaws:
(1) No member may transfer a membership or any right arising therefrom.
(2) All rights of membership cease upon the member’s death or dissolution.
(b) Notwithstanding subdivision (a), no member may transfer for value a membership or any right arising therefrom.
(c) Notwithstanding subdivisions (a) and (b), this section does not prohibit or restrict the transfer, purchase, or sale of a membership in a limited equity housing cooperative, provided that the transfer, purchase, or sale is consistent with Section 33007.5 of the Health and Safety Code.
Notes and commentary — not statutory text
History
Amended by Stats. 1992, Ch. 250, Sec. 1. Effective January 1, 1993.
Source of truth
- Edition
- As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
- Official file
- https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml?lawCode=CORP§ionNum=5320.
- Text hash
- sha256 2b92dbe90b0be9bf2dbd0236a8309a3f56ec85ca115bfa4982c6254e6484c53f
- Composed by
- compose_ca.py 2026-10-22: the Legislative Counsel's CAML content files read by a tokenizer (caml_readers.reader_a); an independent xml.etree reading (caml_readers.reader_b) agrees on every section
This section cites
Provisions in this library that the text above cites, as it prints each citation. A range cited as “ss. 61.13-61.16” links its first and last provisions.
Corporations Code
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.