(a) Eligibility.—
Except as provided in this chapter, eligibility for membership in the corporation and the rights, privileges, and designation of classes of members are as provided in the constitution and bylaws of the corporation.
Historical and Revision Notes |
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Revised Section |
Source (U.S. Code) |
Source (Statutes at Large) |
22303 |
36:3406. |
Oct. 15, 1962, Pub. L. 87–817, § 6, 76 Stat. 931. |
In subsection (a), the words “are as provided in the constitution and bylaws of the corporation” are substituted for “shall . . . be determined as the constitution and bylaws of the corporation may provide” to eliminate unnecessary words.
In subsection (b), the words “the right to” are omitted as unnecessary.