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UTAH STATUTES AND CODES
16-16-1006 - Redemption or repurchase.
16-16-1006. Redemption or repurchase.
Property distributed to a member by a limited cooperative association, other than money,may be redeemed or repurchased as provided in the organic rules but a redemption or repurchasemay not be made without authorization by the board of directors. The board may withholdauthorization for any reason in its sole discretion. A redemption or repurchase is treated as adistribution for purposes of Section 16-16-1007.
Property distributed to a member by a limited cooperative association, other than money,may be redeemed or repurchased as provided in the organic rules but a redemption or repurchasemay not be made without authorization by the board of directors. The board may withholdauthorization for any reason in its sole discretion. A redemption or repurchase is treated as adistribution for purposes of Section 16-16-1007.
Enacted by Chapter 363, 2008 General Session
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