Title 11B, Title 11B: Nonprofit Corporations

§ 6.21. Transfers (a) Except as set forth in or authorized by the articles or bylaws, no member of a mutual benefit corporation may transfer a membership or any right arising therefrom. (b) No member of a public benefit corporation may transfer a membership or any right arising t…

§ 6.22. Member’s liability to third parties A member of a corporation is not, as such, personally liable for the acts, debts, liabilities, or obligations of the corporation. (Added 1995, No. 179 (Adj. Sess.), § 1, eff. Jan. 1, 1997.)

§ 6.23. Member’s liability for dues, assessments, and fees A member may become liable to the corporation for dues, assessments, or fees; provided, however, that an article or bylaw provision or a resolution adopted by the board authorizing or imposing dues, assessments, or fees d…

§ 6.24. Creditor’s action against member (a) No proceeding may be brought by a creditor to reach the liability, if any, of a member to the corporation unless final judgment has been rendered in favor of the creditor against the corporation and execution has been returned unsatisf…

§ 6.30. Resignation (a) A member may resign at any time. (b) The resignation of a member does not relieve the member from any obligations the member may have to the corporation. (Added 1995, No. 179 (Adj. Sess.), § 1, eff. Jan. 1, 1997.)

§ 6.31. Termination; expulsion and suspension (a) No member of a public benefit or mutual benefit corporation may be expelled or suspended, and no membership or memberships may be terminated or suspended except pursuant to a procedure which is fair and reasonable and is carried o…

§ 6.32. Purchase of memberships (a) A public benefit corporation may not purchase any of its memberships or any right arising therefrom. (b) A mutual benefit corporation may purchase the membership of a member who resigns or whose membership is terminated for the amount and pursu…

§ 6.40. Derivative suits (a) A proceeding may be brought in the right of a domestic or foreign corporation to procure a judgment in its favor by: (1) any member or members having five percent or more of the voting power or by 50 members, whichever is less; or (2) any director. (b…

§ 6.50. Delegates (a) A corporation may provide in its articles or bylaws for delegates having some or all of the authority of members. (b) The articles or bylaws may set forth provisions relating to: (1) the characteristics, qualifications, rights, limitations, and obligations o…