Utah § 16-4-204 Order levying assessment -- Contents.

Utah Statutes

§ 16-4-204 — Order levying assessment -- Contents.

Utah § 16-4-204

Title 16Corporations

Ch. 16-4Share Assessment Act

Part 16-4-2Assessments

This text of Utah § 16-4-204 (Order levying assessment -- Contents.) 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. § 16-4-204 (2026).

Text

(1)An assessment may be levied by order of the board of directors.

(2)An order levying an assessment shall:

(2)(a) specify the amount of the levy on each share;

(2)(b) specify when, to whom, and where the assessment is payable; and

(2)(c) identify the day on which an unpaid assessment becomes delinquent.

(3)The date on which an unpaid assessment is considered delinquent shall be at least 30 days after notice of assessment is given as provided in Section 16-4-206.

(4)If assessments are not levied on an equal basis for all shares, the order shall state the equitable basis for the differing assessments.

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(1) An assessment may be levied by order of the board of directors.
(2) An order levying an assessment shall:

(2)(a) specify the amount of the levy on each share;
(2)(b) specify when, to whom, and where the assessment is payable; and
(2)(c) identify the day on which an unpaid assessment becomes delinquent.
(3) The date on which an unpaid assessment is considered delinquent shall be at least 30 days after notice of assessment is given as provided in Section 16-4-206.
(4) If assessments are not levied on an equal basis for all shares, the order shall state the equitable basis for the differing assessments.