Utah § 16-16-1006 Redemption or repurchase.

Utah Statutes

§ 16-16-1006 — Redemption or repurchase.

Utah § 16-16-1006

Title 16Corporations

Ch. 16-16Uniform Limited Cooperative Association Act

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

This text of Utah § 16-16-1006 (Redemption or repurchase.) 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. § 16-16-1006 (2026).

Text

Property distributed to a member by a limited cooperative association, other than money, may be redeemed or repurchased as provided in the organic rules but a redemption or repurchase may not be made without authorization by the board of directors.  The board may withhold authorization for any reason in its sole discretion.  A redemption or repurchase is treated as a distribution for purposes of Section 16-16-1007.

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Property distributed to a member by a limited cooperative association, other than money, may be redeemed or repurchased as provided in the organic rules but a redemption or repurchase may not be made without authorization by the board of directors. The board may withhold authorization for any reason in its sole discretion. A redemption or repurchase is treated as a distribution for purposes of Section 16-16-1007.