Utah § 6a-207 - Incorporation of cooperative association.
Full text of Utah Utah Code § 6a-207 — Incorporation of cooperative association., with citation guidance and answers to common questions.
§ 6a-207. Incorporation of cooperative association.
Effective 5/9/2017 16-6a-207.
Incorporation of cooperative association.
(1)
(a)
If a cooperative association meets the requirements of Subsection (1)(b), it may:
(i)
be incorporated under this chapter; and
(ii)
use the word "cooperative" as part of its corporate or business name.
(b)
A cooperative association described in Subsection (1)(a):
(i)
may not be an association subject to the insurance or credit union laws of this state; and
(ii)
shall state in its articles of incorporation that:
(A)
a member may not have more than one vote regardless of the number or amount of stock or membership capital owned by the member unless voting is based in whole or in part on the volume of patronage of the member with the cooperative association; and
(B)
savings in excess of dividends and additions to reserves and surplus shall be distributed or allocated to members or patrons on the basis of patronage.
(2)
(a)
Any cooperative association incorporated in accordance with Subsection (1):
(i)
has all the rights and is subject to the limitations provided in Section 3-1-11; and
(ii)
may pay dividends on its stock, if it has stock, subject to the limitations of Section 3-1-11.
(b)
The articles of incorporation or the bylaws of a cooperative association incorporated in accordance with Subsection (1) may provide for:
(i)
the establishment and alteration of voting districts;
(ii)
the election of delegates to represent:
(A)
the districts described in Subsection (2)(b)(i); and
(B)
the members of the districts described in Subsection (2)(b)(i);
(iii)
the establishment and alteration of director districts; and
(iv)
the election of directors to represent the districts described in Subsection (2)(b)(ii) by:
makes changes in its articles of incorporation that are:
(A)
required by this chapter; and
(B)
any other changes permitted by this chapter.
(b)
The amendments described in Subsection (3)(a) shall be adopted and filed in the manner provided by the law then applicable to the cooperative nonprofit corporation.
(4)
Except as otherwise provided in this section, a cooperative nonprofit corporation is subject to this chapter.
Section 6a-207 ("Incorporation of cooperative association.") 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 § 6a-207?
A common citation format is "Utah Code § 6a-207" (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 § 6a-207 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.
