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Code · Utah · Title 16 — Corporations · Chapter 16

16-16-1102. Effect of dissociation as member.

121 words·~1 min read·/ut/title-16/chapter-16/16-16-1102

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Effective 10/1/2026
16-16-1102. Effect of dissociation as member.
(1)Upon a member's dissociation:
(a)subject to Section 16-16-1103 , the person has no further rights as a member; and
(b)subject to Section 16-16-1103 and Chapter 1a, Part 7, Merger, and Chapter 1a, Part 9, Conversion, any financial rights owned by the person in the person's capacity as a member immediately before dissociation are owned by the person as a transferee.
(2)A person's dissociation as a member does not of itself discharge the person from any debt, obligation, or liability to the limited cooperative association which the person incurred under the organic rules, by contract, or by other means while a member.
Amended by Chapter 92 , 2026 General Session
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