Utah Code Title 16. Corporations § 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.