A common-interest association may be incorporated as a nonprofit corporation or a for profit corporation, or unincorporated, or formed as an LLC.  Incorporating as a nonprofit corporation is the only recommended form, unless the association is engaged in for profit activities and desires to distribute profits to its shareholders, in which case a for profit corporation is the generally recommended form.

In some states, it is less common to incorporate an association on the theory that the condominium or other applicable statute provides all of the needed protections and guidelines for operation.  However, that is not the case in Utah.  Neither the Condo Act nor the Community Association Act provide

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Statutes and Cases:

(For reference: 57-8 is the Condo Act, 57-8a is the Community Association Act, 16-6a is the Nonprofit Act)
HOA resources and laws annotated
HOA resources and laws annotated