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2011 Utah Code
Title 16 Corporations
Chapter 16 Uniform Limited Cooperative Association Act
Section 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 repurchase may not be made without authorization by the board of directors. The board may withhold authorization for any reason in its sole discretion. A redemption or repurchase is treated as a distribution for purposes of Section 16-16-1007.

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