Every association shall issue a certificate of a membership to each member. Such certificate of membership shall not be transferable except as may be authorized by the bylaws, and no person who may acquire same by operation of law, or otherwise than as may be prescribed in this act, and the Articles of Association and bylaws of the association, shall be entitled to become a member by virtue of such certificate.

Laws 1917, c. 22, p. 65, § 8; Laws 1923, c. 181, p. 313, § 8.