Utah § 16-4-306 Determining the highest bidder -- Transfer to highest bidder.

Utah Statutes

§ 16-4-306 — Determining the highest bidder -- Transfer to highest bidder.

Utah § 16-4-306

Title 16Corporations

Ch. 16-4Share Assessment Act

Part 16-4-3Enforcement

This text of Utah § 16-4-306 (Determining the highest bidder -- Transfer to highest bidder.) 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. § 16-4-306 (2026).

Text

(1)(1)(a) The person offering at a sale to pay the highest amount for the smallest number or fraction of shares, which may not be less than the delinquent assessment and all other amounts payable, is the highest bidder.

(1)(b) Whether the bid is for the smallest number or fraction of shares is determined by the articles of incorporation.

(2)The shares purchased shall be transferred to the highest bidder on the share books of the corporation upon payment of the bid amount.

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(1) (1)(a) The person offering at a sale to pay the highest amount for the smallest number or fraction of shares, which may not be less than the delinquent assessment and all other amounts payable, is the highest bidder.
(1)(b) Whether the bid is for the smallest number or fraction of shares is determined by the articles of incorporation.
(2) The shares purchased shall be transferred to the highest bidder on the share books of the corporation upon payment of the bid amount.