There Is a Newer Version of the Utah Code
2011 Utah Code
Title 16 Corporations
Chapter 16 Uniform Limited Cooperative Association Act
Section 105 Purpose and duration of limited cooperative association.
16-16-105. Purpose and duration of limited cooperative association.(1) A limited cooperative association is an entity distinct from its members.
(2) A limited cooperative association may be organized for any lawful purpose, whether or not for profit, except for the operation of a financial institution as defined in Section 7-1-103.
(3) Unless the articles of organization state a term for a limited cooperative association's existence, the association has perpetual duration.
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