water company

water company

See also Index, mutual benefit corporation (definition: mutual benefit corporation).

See also Utah Code Title 16 - Corporations, Chapter 4 - Share Assessment Act.  The Share Assessment Act applies to corporations in which a shareholder has the right to receive water from the corporation, based on the shareholder's share.  The Act's requirements as to how an assessment must be levied (which are generally contained in Part 2) only apply if the corporation's articles or bylaws don’t specify "commercially reasonable procedures" for levying assessments, except § 16-4-203 "Equitable assessment," which always

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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)

16-6a-102. Definitions
16-6a-119. Execution against a mutual benefit corporation
16-6a-1302. Authorized distributions
16-6a-610. Purchase of memberships
16-6a-611. No property right