Section 5320.
Cal. Corporations Code - CORP § 5320.
in effect(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.
Source: CA Legislative Counsel Bulk DataURL: https://downloads.leginfo.legislature.ca.gov/pubinfo_2025.zipFetched: 6/27/2026