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This issue is caused by changes in SQL syntax. The module file affected is membership/sql/mysql.sql
If you open this one in a text editor you will find a line close to the lower end of the page which says:
time_changed timestamp NOT NULL default 'NOW()',
Due to the syntax of my server's MySQL I had to change that into
time_changed timestamp NOT NULL default CURRENT_TIMESTAMP,
The changes are:
1.) NOW() changed to CURRENT_TIMESTAMP
2.) the apostrophes in 'NOW()' are gone. Just CURRENT_TIMESTAMP
It worked for me. If it won't work for you and you have a quality service provider you should find a MySQL manual inside the webadmin area. Look up the correct syntax for timestamp settings.