Utah § 16-16-1501 - Disposition of assets not requiring member approval.
Full text of Utah Utah Code § 16-16-1501 — Disposition of assets not requiring member approval., with citation guidance and answers to common questions.
§ 16-16-1501. Disposition of assets not requiring member approval.
Unless the articles of organization otherwise provide, member approval under Section 16-16-1502 is not required for a limited cooperative association to:
| (1) | sell, lease, exchange, license, or otherwise dispose of all or any part of the assets of the association in the usual and regular course of business; or |
| (2) | mortgage, pledge, dedicate to the repayment of indebtedness, or encumber in any way all or any part of the assets of the association whether or not in the usual and regular course of business. |
Enacted by Chapter 363, 2008 General Session
Source: official Utah text · Last verified 2026-08-27
Frequently Asked Questions About Utah § 16-16-1501
What does Utah Code § 16-16-1501 cover?
Section 16-16-1501 ("Disposition of assets not requiring member approval.") is part of the Utah Code, the codified statutory law of Utah. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Utah § 16-16-1501?
A common citation format is "Utah Code § 16-16-1501" (Utah). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Utah law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Utah official source linked on this page or consult a licensed Utah attorney.
How does Utah § 16-16-1501 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Utah can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Utah.