(1) Unless otherwise provided by the bylaws, a member of a nonprofit corporation may not transfer:
     (a) a membership; or
     (b) any right arising from a membership.

(2) Where transfer rights have been provided, a restriction on transfer rights may not 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 affected member. 

Enacted by Chapter 300, 2000 General Session