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Utah Code Title 16. Corporations § 16-6a-611. Property rights

Current as of May 05, 2022 | Updated by FindLaw Staff

(1) A member has no right relating to management, control, purpose, or duration of the nonprofit corporation, except as provided by:

(a) the articles of incorporation or the bylaws of a mutual benefit corporation; or

(b) other applicable law.

(2) Unless otherwise provided by agreement, articles of incorporation, or the bylaws of a water company, and subject to the general liabilities and obligations of the water company, a shareholder in a water company has:

(a) an equitable, beneficial interest in the use of the water supply of the water company, proportionate to the shareholder's shares in the water company, which is an interest in real property; and

(b) the right to have the shareholder's proportionate share of the water delivered through a diversion structure, ditch, canal, storage and distribution facility, or other appurtenance of the water company, in accordance with:

(i) the distribution method of the water company; or

(ii) an approved change application under Section 73-3-3.5.

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Cite this article: FindLaw.com - Utah Code Title 16. Corporations § 16-6a-611. Property rights - last updated May 05, 2022 | https://codes.findlaw.com/ut/title-16-corporations/ut-code-sect-16-6a-611/

Read this complete Utah Code Title 16. Corporations § 16-6a-611. Property rights on Westlaw. Westlaw subscription required.

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