Utah Statutes
§ 16-16-1005 — Distributions.
Utah·Title 16 Corporations·Ch. 16-16 Uniform Limited Cooperative Association Act·Part 16-16-10 Contributions, Allocations, and Distributions
(1)Unless the organic rules otherwise provide and subject to Section 16-16-1007, the board of directors may authorize, and the limited cooperative association may make, distributions to members.
(2)Unless the organic rules otherwise provide, distributions to members may be made in any form, including money, capital credits, allocated patronage equities, revolving fund certificates, and the limited cooperative association's own or other securities.
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Legislative History
Enacted by Chapter 363, 2008 General Session
Nearby Sections
15
§ 16-10a-1001
Authority to amend.§ 16-10a-1002
Amendment by board of directors.§ 16-10a-1003
Amendment by board of directors and shareholders.§ 16-10a-1004
Voting on amendments by voting groups.§ 16-10a-1005
Amendment before issuance of shares.§ 16-10a-1006
Articles of amendment.§ 16-10a-1007
Restated articles of incorporation.§ 16-10a-1008
Amendment pursuant to reorganization.§ 16-10a-1008.5
Conversion to a nonprofit corporation.§ 16-10a-1008.7
Conversion to or from a domestic limited liability company.§ 16-10a-1009
Effect of amendment.§ 16-10a-101
Short title.§ 16-10a-102
Definitions.