Utah Statutes
§ 16-4-201 — Assessments.
(1)The shares of a nonprofit corporation are subject to assessment for any corporate purpose, except to the extent proscribed by the articles of incorporation.
(2)The shares of a profit corporation are subject to assessment if:
(2)(a) those shares were subject to assessment before May 1, 2007; and
(2)(b) the assessment is not proscribed by the corporation's articles of incorporation.
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Legislative History
Enacted by Chapter 367, 2007 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.