The bylaws may provide:

1. 1. Membership The number and qualification of members of the association and the conditions precedent to membership or ownership of common stock;
2. 2. Withdrawal The method, time and manner of permitting members to withdraw or the holders of common stock to transfer their stock;
3. 3. Transfer of interest The manner of assignment and transfer of the interest of members and of the shares of common stock;
4. 4. Cessation of membership The conditions upon which and time when membership of any member shall cease;

5. 5. Suspension For the automatic suspension of the rights of a member when the member ceases to be eligible for membership in the association; and the mode, manner and effect of the expulsion of a member; and

   [RR 2025, c. 1, Pt. E, §20 (COR).]

6. 6. Valuation of interest The manner of determining the value of a member's interest and provision for its purchase by the association upon the death or withdrawal of a member or upon the expulsion of a member or forfeiture of a member's membership, or at the option of the association, the purchase at a price fixed by conclusive appraisal by the board of directors; and the conditions and terms for the repurchase by the corporation from its stockholders of their stock upon their disqualification as stockholders.

   [RR 2025, c. 1, Pt. E, §21 (COR).]

RR 2025, c. 1, Pt. E, §§20, 21 (COR).