Utah § 16-4-306 - Determining the highest bidder -- Transfer to highest bidder.

Full text of Utah Utah Code § 16-4-306 — Determining the highest bidder -- Transfer to highest bidder., with citation guidance and answers to common questions.

§ 16-4-306. Determining the highest bidder -- Transfer to highest bidder.

16-4-306.  Determining the highest bidder -- Transfer to highest bidder.
(1)
(a) The person offering at a sale to pay the highest amount for the smallest number or fraction of shares, which may not be less than the delinquent assessment and all other amounts payable, is the highest bidder.
(b) Whether the bid is for the smallest number or fraction of shares is determined by the articles of incorporation.
(2) The shares purchased shall be transferred to the highest bidder on the share books of the corporation upon payment of the bid amount.


Enacted by Chapter 367, 2007 General Session

Source: official Utah text · Last verified 2026-08-27

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Frequently Asked Questions About Utah § 16-4-306

What does Utah Code § 16-4-306 cover?

Section 16-4-306 ("Determining the highest bidder -- Transfer to highest bidder.") 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 § 16-4-306?

A common citation format is "Utah Code § 16-4-306" (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 § 16-4-306 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.