§ 16-6a-119 — Execution against a mutual benefit corporation.

(1) As used in this section:

(1)(a) "Judicial lien" means one or more of the following:
(1)(a)(i) a judgment lien; or
(1)(a)(ii) other lien obtained by a judicial or equitable process or proceeding.
(1)(b) "Water right" means:
(1)(b)(i) a right to use water evidenced by a means identified in Section 73-1-10; or
(1)(b)(ii) a right to use water under an approved application:

(1)(b)(ii)(A) to appropriate;
(1)(b)(ii)(B) for a change of use; or
(1)(b)(ii)(C) for the exchange of water.
(1)(c) "Water rights and related assets" means a water right or title to:
(1)(c)(i) a water conveyance facility; or
(1)(c)(ii) other asset of a mutual benefit corporation necessary to divert or distribute water to its members.
(2) Except as provided in Subsection (3), a court may not do the following with regard to a judicial lien recorded on or after May 12, 2009 against the water rights and related assets of a mutual benefit corporation earlier than 180 days after the day on which the judicial lien is recorded or takes effect:

(2)(a) execute the judicial lien;
(2)(b) impose a levy as a result of the judicial lien; or
(2)(c) force the sale, transfer, or change in ownership of the water rights and related assets pursuant to the judicial lien.
(3) This section does not apply to a judicial lien related to a cause of action brought against a mutual benefit corporation by a shareholder under Section 73-3-3.5.

Legislative History

Enacted by Chapter 37, 2009 General Session