(a) Subject to Section 5613, and unless otherwise provided in the corporationâs articles or bylaws: (1) No member may transfer a membership or any right arising therefrom. (2) All rights of membership cease upon the memberâs 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.
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