Utah § 16-4-311 Action to recover shares sold -- Tender -- Limitation of action.

Utah Statutes

§ 16-4-311 — Action to recover shares sold -- Tender -- Limitation of action.

Utah § 16-4-311

Title 16Corporations

Ch. 16-4Share Assessment Act

Part 16-4-3Enforcement

This text of Utah § 16-4-311 (Action to recover shares sold -- Tender -- Limitation of action.) 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. § 16-4-311 (2026).

Text

(1)No action may be brought to recover shares sold for a delinquent assessment based on irregularity or defect in the notice of sale or the sale unless the person bringing the action first pays or tenders payment to the corporation or to the person holding the shares sold:

(1)(a) the amount for which the shares were sold;

(1)(b) the amount of all subsequent assessments levied on the shares; and

(1)(c) interest on the amounts identified in Subsections (1)(a) and (b) from the time the amounts were paid by the person purchasing the shares.

(2)No action may be brought to recover shares sold under this part more than six months after the sale of the shares at auction.

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(1) No action may be brought to recover shares sold for a delinquent assessment based on irregularity or defect in the notice of sale or the sale unless the person bringing the action first pays or tenders payment to the corporation or to the person holding the shares sold:

(1)(a) the amount for which the shares were sold;
(1)(b) the amount of all subsequent assessments levied on the shares; and
(1)(c) interest on the amounts identified in Subsections (1)(a) and (b) from the time the amounts were paid by the person purchasing the shares.
(2) No action may be brought to recover shares sold under this part more than six months after the sale of the shares at auction.