District Of Columbia § 29-1006.03 - Transferability of member’s interest.
Full text of District Of Columbia D.C. Code § 29-1006.03 — Transferability of member’s interest., with citation guidance and answers to common questions.
§ 29-1006.03. Transferability of member’s interest.
29-1006.03The provisions of this chapter relating to the transferability of a member’s interest shall be subject to .
Unless the organic rules otherwise provide, a member’s interest other than financial rights shall not be transferable.
Unless a transfer is restricted or prohibited by the organic rules, a member may transfer its financial rights in the limited cooperative association.
The terms of any restriction on transferability of financial rights shall be:
Set forth in the organic rules and the member records of the association; and
Conspicuously noted on any certificates evidencing a member’s interest.
A transferee of a member’s financial rights, to the extent the rights are transferred, shall have 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.
A transferee of a member’s financial rights shall not become a member upon transfer of the rights unless the transferee is admitted as a member by the limited cooperative association.
A limited cooperative association need not give effect to a transfer under this section until the association has notice of the transfer.
A transfer of a member’s financial rights in violation of a restriction on transfer contained in the organic rules shall be ineffective as to a person having notice of the restriction at the time of transfer.
Annotations
Source: official District Of Columbia text · Last verified 2026-08-27
Frequently Asked Questions About District Of Columbia § 29-1006.03
What does D.C. Code § 29-1006.03 cover?
Section 29-1006.03 ("Transferability of member’s interest.") is part of the D.C. Code, the codified statutory law of District Of Columbia. 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 District Of Columbia § 29-1006.03?
A common citation format is "D.C. Code § 29-1006.03" (District Of Columbia). 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 District Of Columbia law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the District Of Columbia official source linked on this page or consult a licensed District Of Columbia attorney.
How does District Of Columbia § 29-1006.03 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in District Of Columbia 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 District Of Columbia.