16-6a-1014. Amendment terminating members or redeeming or canceling memberships.
101 words·~1 min read·
/ut/title-16/chapter-6a/16-6a-1014A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
16-6a-1014. Amendment terminating members or redeeming or canceling memberships.
(1)An amendment to the articles of incorporation or bylaws of a nonprofit corporation shall meet the requirements of this chapter and this section if the amendment would:
(a)terminate all members or any class of members; or
(b)redeem or cancel all memberships or any class of memberships.
(2)Before adopting a resolution proposing an amendment as described in Subsection
(1), the board of directors of a nonprofit corporation shall give notice of the general nature of the amendment to the members.
Enacted by Chapter 300 , 2000 General Session