UTAH CODE (Last Updated: January 16, 2015) |
Title 16. Corporations |
Chapter 4. Share Assessment Act |
Part 2. Assessments |
§ 16-4-204. Order levying assessment -- Contents.
Latest version.
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(1) An assessment may be levied by order of the board of directors. (3) The date on which an unpaid assessment is considered delinquent shall be at least 30 days after notice of assessment is given as provided in Section 16-4-206. (4) If assessments are not levied on an equal basis for all shares, the order shall state the equitable basis for the differing assessments.
Enacted by Chapter 367, 2007 General Session