Statutes > Mississippi Statutes > TITLE 79 - CORPORATIONS, ASSOCIATIONS, AND PARTNERSHIPS > Chapter 11 - Nonprofit, Nonshare Corporations and Religious Societies. > 79-11-191 - Purchase by corporation of membership of member who resigns or whose membership is terminated.

79-11-191 - Purchase by corporation of membership of member who resigns or whose membership is terminated.

§ 79-11-191. Purchase by corporation of membership of member who resigns or whose membership is terminated.
  

A corporation may purchase the membership of a member who resigns or whose membership is terminated for the amount and pursuant to the conditions set forth in or authorized by its articles or bylaws. No payment shall be made in violation of Section 79-11-293. 
 

Sources: Laws,  1987, ch. 485, § 46, eff from and after January 1, 1988.