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2012 Utah Code
Title 16 - Corporations
Article 4 - Share Assessment Act
Section 201 - Assessments.
Universal Citation:
UT Code ยง 16-4-201 (2012)
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16-4-201. Assessments.
(1) The shares of a nonprofit corporation are subject to assessment for any corporate purpose, except to the extent proscribed by the articles of incorporation.
(2) The shares of a profit corporation are subject to assessment if:
(a) those shares were subject to assessment before May 1, 2007; and
(b) the assessment is not proscribed by the corporation's articles of incorporation.
Enacted by Chapter 367, 2007 General Session
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