Sec. 887.155. TRANSFER OF MEMBERSHIP OR MERGER OF CLASSES. (a) Without advance approval of the department, an association may not: (1) transfer any part or class of membership or all membership to another association; or (2) merge classes or transfer a member from one class to another in the association. (b) The department may grant approval under Subsection (a) only after the department: (1) completely investigates the facts; and (2) determines that the proposed merger or transfer is to the advantage of the members or classes affected by the merger or transfer.
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