Historical Version of Section.
Effective 2000.  
Superseded May 15, 2015.

(1) Unless otherwise provided by the bylaws, a nonprofit corporation may not purchase the membership of a member:
     (a) who resigns; or
     (b) whose membership is terminated.

(2) (a) If so authorized, a nonprofit corporation may purchase the membership of a member who resigns or whose membership is terminated for the amount and pursuant to the conditions set forth in or authorized by:
            (i) its bylaws; or
            (ii) agreement with the affected member.
     (b) A payment permitted under Subsection (2)(a) may not violate:
            (i) Section 16-6a-1301; or
            (ii) any other provision of this chapter. 

Enacted by Chapter 300, 2000 General Session