(1) A public benefit corporation or religious corporation may not acquire for value any of the corporation’s memberships or any right arising from a membership, unless the member is a public benefit corporation or religious corporation.\n(2) A mutual benefit corporation may acquire 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 the mutual benefit corporation’s articles of incorporation or bylaws.\n(3) An acquisition of memberships may not be made in violation of ORS 65.551 or 65.554. [1989 c.1010 §49; 2019 c.174 §35]
Oregon Legal Code