Colorado § 7-58-603 - Transferability of member's interest.
Full text of Colorado Colorado Revised Statutes § 7-58-603 — Transferability of member's interest., with citation guidance and answers to common questions.
§ 7-58-603. Transferability of member's interest.
(1) Section 7-90-104 applies to this article.
(2) Unless the articles or bylaws otherwise provide, a member's interest other than financial rights is not transferable.
(3) Unless a transfer is restricted or prohibited by the articles or bylaws, a member may transfer its financial rights in the limited cooperative association.
(4) The terms of any restriction on transferability of financial rights must be:
(a) Set forth in the articles or bylaws and the member records of the association; and
(b) Conspicuously noted on any certificates evidencing a member's interest.
(5) A transferee of a member's financial rights, to the extent the rights are transferred, has the right to share in the allocation of profits or losses and to receive the distributions to the member transferring the interest to the same extent as the transferring member.
(6) A transferee of a member's financial rights does not become a member upon transfer of the rights unless the transferee is admitted as a member by the limited cooperative association.
(7) A limited cooperative association need not give effect to a transfer under this section until the association has notice of the transfer.
(8) A transfer of a member's financial rights in violation of a restriction on transfer contained in the articles or bylaws is ineffective as to a person having notice of the restriction at the time of transfer.
Source: L. 2011: Entire article added, (SB 11-191), ch. 197, p. 787, § 1, effective April 2, 2012.
Source: official Colorado text · Last verified 2026-08-27
Frequently Asked Questions About Colorado § 7-58-603
What does Colorado Revised Statutes § 7-58-603 cover?
Section 7-58-603 ("Transferability of member's interest.") is part of the Colorado Revised Statutes, the codified statutory law of Colorado. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Colorado § 7-58-603?
A common citation format is "Colorado Revised Statutes § 7-58-603" (Colorado). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Colorado law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Colorado official source linked on this page or consult a licensed Colorado attorney.
How does Colorado § 7-58-603 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Colorado can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Colorado.