CODE OF VIRGINIA

MEMBERS (§ 13.1-837)

A corporation may have one or more classes of members or may have no members. If
the corporation has one or more classes of members, the designation of such
class or classes and the qualifications and rights of the members of each class
shall be set forth in the articles of incorporation or, if the articles of
incorporation so provide, in the bylaws. A corporation may issue certificates
evidencing membership interests therein. Membership interests shall not be
transferable. Members shall not have voting or other rights except as provided
in the articles of incorporation or if the articles of incorporation so provide,
in the bylaws. Members of any corporation existing on January 1, 1957, shall
continue to have the same voting and other rights as before January 1, 1957,
until changed by amendment of the articles of incorporation.

HISTORY: Code 1950, § 13.1-211; 1956, c. 428; 1958, c. 564; 1982, c. 182; 1985,
c. 522; 2007, c. 925.