Utah § 16-16-602 Patron and investor members' interests.

Utah Statutes

§ 16-16-602 — Patron and investor members' interests.

Utah·Title 16 Corporations·Ch. 16-16 Uniform Limited Cooperative Association Act·Part 16-16-6 Member's Interest in Limited Cooperative Association

(1)Unless the organic rules establish investor members' interests, a member's interest is a patron member's interest.

(2)Unless the organic rules otherwise provide, if a limited cooperative association has investor members, while a person is a member of the association, the person:

(2)(a) if admitted as a patron member, remains a patron member;

(2)(b) if admitted as an investor member, remains an investor member; and

(2)(c) if admitted as a patron member and investor member, remains a patron and investor member if not dissociated in one of the capacities.

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(1) Unless the organic rules establish investor members' interests, a member's interest is a patron member's interest.
(2) Unless the organic rules otherwise provide, if a limited cooperative association has investor members, while a person is a member of the association, the person:

(2)(a) if admitted as a patron member, remains a patron member;
(2)(b) if admitted as an investor member, remains an investor member; and
(2)(c) if admitted as a patron member and investor member, remains a patron and investor member if not dissociated in one of the capacities.

Utah § 16-16-602 (Patron and investor members' interests.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.