Purchase of memberships

Purchase of memberships. — (1) A corporation may not purchase any of its memberships or any right arising from membership except as provided in s. 617.0505 or subsection (2). (2) Subject to s. 617.1302 , a mutual benefit corporation may purchase the membership of a member who resigns, or whose membership is terminated, for the amount and pursuant to the conditions set forth in its articles of incorporation or bylaws.