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