Utah § 16-16-1002 Contribution and valuation.

Utah Statutes

§ 16-16-1002 — Contribution and valuation.

Utah § 16-16-1002

Title 16Corporations

Ch. 16-16Uniform Limited Cooperative Association Act

Part 16-16-10Contributions, Allocations, and Distributions

This text of Utah § 16-16-1002 (Contribution and valuation.) is published on Counsel Stack Legal Research, covering Utah primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Utah Code Ann. § 16-16-1002 (2026).

Text

(1)Unless the organic rules otherwise provide, the contributions of a member to a limited cooperative association may consist of tangible or intangible property or other benefit to the association, including money, labor or other services performed or to be performed, promissory notes, other agreements to contribute money or property, and contracts to be performed.

(2)The receipt and acceptance of contributions and the valuation of contributions shall be reflected in a limited cooperative association's records.

(3)Unless the organic rules otherwise provide, the board of directors shall determine the value of a member's contributions received or to be received and the determination by the board of directors of valuation is conclusive for purposes of determining whether the member's contr

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(1) Unless the organic rules otherwise provide, the contributions of a member to a limited cooperative association may consist of tangible or intangible property or other benefit to the association, including money, labor or other services performed or to be performed, promissory notes, other agreements to contribute money or property, and contracts to be performed.
(2) The receipt and acceptance of contributions and the valuation of contributions shall be reflected in a limited cooperative association's records.
(3) Unless the organic rules otherwise provide, the board of directors shall determine the value of a member's contributions received or to be received and the determination by the board of directors of valuation is conclusive for purposes of determining whether the member's contribution obligation has been met.