Section 43 – Inspection of records.
3-1-43. Inspection of records. (1) Unless waived by the association, an association’s books and records kept pursuant to Subsection 3-1-42(4) may only be inspected and copied by a member or by the member’s duly authorized agent or attorney: (a) during regular business hours; (b) at the association’s principal office; and (c) if three business days […]
Section 26 – Separability clause.
3-1-26. Severability clause. If any provision of this act or the application thereof to any person or circumstances is held invalid, such invalidity does not affect other provisions or applications of the act which can be given effect without the invalid provision or application, and to this end the provisions of this act are declared […]
Section 44 – Registered office and agent.
3-1-44. Registered office and agent. (1) An association shall continuously maintain a registered office in this state. The registered office may be the principal place of business of the association. (2) (a) An association shall designate a registered agent. (b) The registered agent may be a person residing in this state, a domestic corporation, or […]
Section 27 – Construction of chapter.
3-1-27. Construction of chapter. This act shall be so interpreted and construed as to effectuate its general purpose to make uniform the law of those states which enact it. No Change Since 1953
Section 45 – Sale, mortgage, and lease of assets.
3-1-45. Sale, mortgage, and lease of assets. (1) (a) The association may sell, lease, exchange, mortgage, pledge, dispose of, or repay a debt with any of the property and assets of an association, if this action is made in the usual and regular course of business of the association. (b) The action taken under Subsection […]
Section 28 – Short title.
3-1-28. Short title. This act may be cited as the Uniform Agricultural Cooperative Association Act. No Change Since 1953
Section 29 – Inconsistent acts repealed — Existing associations continued.
3-1-29. Inconsistent acts repealed — Existing associations continued. All acts and parts of acts which are inconsistent with the provisions of this act are repealed. It is intended by the enactment of this measure to continue in good standing all existing associations organized under similar acts heretofore existing, and in no way to detract from […]
Section 30 – Authorization for merger or consolidation with other associations or corporations — Laws governing surviving or new corporation.
3-1-30. Authorization for merger or consolidation with other associations or corporations — Laws governing surviving or new corporation. (1) Pursuant to a plan approved under this chapter, an agricultural cooperative association may merge or consolidate with: (a) one or more agricultural cooperative associations; (b) one or more domestic corporations governed by: (i)Title 16, Chapter 10a, […]
Section 31 – Contents and approval of plan of merger or consolidation.
3-1-31. Contents and approval of plan of merger or consolidation. (1) The board of directors, board of trustees, or other governing board of each party to the merger or consolidation shall, by resolution adopted by each board, approve a plan of merger or consolidation. (2) The plan shall contain: (a) the name of: (i) each […]
Section 32 – Notice to members and shareholders of meeting to vote on plan of merger or consolidation.
3-1-32. Notice to members and shareholders of meeting to vote on plan of merger or consolidation. (1) After approval of the plan under Section 3-1-31, the members or shareholders shall vote on the plan at an annual or special meeting. (2) The members shall be given written notice specifying: (a) the place, date, and time […]