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Utah Code Title 16. Corporations § 16-16-1202. Nonjudicial dissolution

Current as of January 01, 2025 | Updated by Findlaw Staff

Except as otherwise provided in Sections 16-16-1203 and 16-16-1211, a limited cooperative association is dissolved and its activities shall be wound up:

(1) upon the occurrence of an event or at a time specified in the articles of organization;

(2) upon the action of the association's organizers, board of directors, or members under Section 16-16-1204 or 16-16-1205; or

(3) 90 days after the dissociation of a member, which results in the association having one patron member and no other members, unless the association:

(a) has a sole member that is a cooperative; or

(b) not later than the end of the 90-day period, admits at least one member in accordance with the organic rules and has at least two members, at least one of which is a patron member.

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Cite this article: FindLaw.com - Utah Code Title 16. Corporations § 16-16-1202. Nonjudicial dissolution - last updated January 01, 2025 | https://codes.findlaw.com/ut/title-16-corporations/ut-code-sect-16-16-1202/

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