Utah Code § 16-16-105
Purpose and duration of limited cooperative association
Utah · Utah Code Title 16 — Business Entities · Status: effective
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- Utah Code § 16-16-105, Purpose and duration of limited cooperative association, Utah, version 1 as recorded 2026-10-03, yourstate.us, https://yourstate.us/provision/2328287
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Full text
(1) A limited cooperative association is an entity distinct from its members.
(2) A limited cooperative association may be organized for any lawful purpose, whether or not for profit, except for the operation of a financial institution as defined in Section 7-1-103.
(3) Unless the articles of organization state a term for a limited cooperative association's existence, the association has perpetual duration.