Utah § 16-16-1501 Disposition of assets not requiring member approval.

Utah Statutes

§ 16-16-1501 — Disposition of assets not requiring member approval.

Utah § 16-16-1501

Title 16Corporations

Ch. 16-16Uniform Limited Cooperative Association Act

Part 16-16-15Disposition of Assets

This text of Utah § 16-16-1501 (Disposition of assets not requiring member approval.) 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. § 16-16-1501 (2026).

Text

Unless the articles of organization otherwise provide, member approval under Section 16-16-1502 is not required for a limited cooperative association to:

(1)sell, lease, exchange, license, or otherwise dispose of all or any part of the assets of the association in the usual and regular course of business; or

(2)mortgage, pledge, dedicate to the repayment of indebtedness, or encumber in any way all or any part of the assets of the association whether or not in the usual and regular course of business.

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Unless the articles of organization otherwise provide, member approval under Section 16-16-1502 is not required for a limited cooperative association to:
(1) sell, lease, exchange, license, or otherwise dispose of all or any part of the assets of the association in the usual and regular course of business; or
(2) mortgage, pledge, dedicate to the repayment of indebtedness, or encumber in any way all or any part of the assets of the association whether or not in the usual and regular course of business.