2012 Utah Code
Title 16 - Corporations
Article 16 - Uniform Limited Cooperative Association Act
Section 401 - Authority to amend organic rules.
(1) A limited cooperative association may amend its organic rules under this part for any lawful purpose. In addition, the initial board of directors may amend the bylaws of an association under Section 16-16-304.
(2) Unless the organic rules otherwise provide, a member does not have a vested property right resulting from any provision in the organic rules, including a provision relating to the management, control, capital structure, distribution, entitlement, purpose, or duration of the limited cooperative association.
Enacted by Chapter 363, 2008 General Session
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