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2014 Utah Code
Title 57 - Real Estate
Chapter 23 - Real Estate Cooperative Marketing Act
Section 2 - Definitions.

UT Code § 57-23-2 (2014) What's This?
57-23-2. Definitions.
As used in this chapter:
(1) "Cooperative" means a form of coownership of real estate in which:
(a) the fee interest in the real estate is held by a corporation, partnership, trust, or other legal entity;
(b) an individual's interest in the cooperative is evidenced in a form such as stock, participation shares, membership certificates, or similar instrument; and
(c) the participating individual's right of occupancy is demonstrated by a proprietary lease or similar instrument.
(2) "Division" means the Division of Real Estate of the Department of Commerce.


Enacted by Chapter 262, 1991 General Session

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