{"code":"CORP","codeName":"Corporations Code","section":"5320","citation":"Corp. Code, § 5320","status":"in-force","lawOn":"2026-09-28","headings":[{"name":"TITLE 1. CORPORATIONS [100. - 14707.]","url":"https://blackletter.si/corporations-code/title-1"},{"name":"DIVISION 2. NONPROFIT CORPORATION LAW [5000. - 10841.]","url":"https://blackletter.si/corporations-code/title-1/division-2"},{"name":"PART 2. NONPROFIT PUBLIC BENEFIT CORPORATIONS [5110. - 6910.]","url":"https://blackletter.si/corporations-code/title-1/division-2/part-2"},{"name":"CHAPTER 3. Members [5310. - 5354.]","url":"https://blackletter.si/corporations-code/title-1/division-2/part-2/chapter-3"},{"name":"ARTICLE 2. Transfer of Memberships [5320. - 5320.]","url":"https://blackletter.si/corporations-code/title-1/division-2/part-2/chapter-3/article-2"}],"history":"Amended by Stats. 1992, Ch. 250, Sec. 1.   Effective January 1, 1993.","effective":"1993-01-01","html":"<p>(a) Subject to Section <a href=\"/corp/5613\">5613</a>, and unless otherwise provided in the corporation’s articles or bylaws:</p><p>(1) No member may transfer a membership or any right arising therefrom.</p><p>(2) All rights of membership cease upon the member’s death or dissolution.</p><p>(b) Notwithstanding subdivision (a), no member may transfer for value a membership or any right arising therefrom.</p><p>(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.</p>","text":"(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.","otherVersions":[],"url":"https://blackletter.si/corporations-code/transfer-of-memberships-5320","source":"California Legislative Information bulk export (pubinfo)"}