(1) |
Not later than 10 business days after receipt of a demand made in a record, a limited cooperative association shall permit a member to obtain, inspect, and copy in the association’s principal office required information listed in Subsections 16-16-114(1)(a) through (h) during regular business hours. A member need not have any particular purpose for seeking the information. The association is not required to provide the same information listed in Subsections 16-16-114(1)(b) through (h) to the same member more than once during a six-month period. |
Terms Used In Utah Code 16-16-505
(2) |
On demand made in a record received by the limited cooperative association, a member may obtain, inspect, and copy in the association’s principal office required information listed in Subsections 16-16-114(1)(i), (j), (l), (m), (p), and (r) during regular business hours, if:
(a) |
the member seeks the information in good faith and for a proper purpose reasonably related to the member’s interest; |
(b) |
the demand includes a description with reasonable particularity of the information sought and the purpose for seeking the information; |
(c) |
the information sought is directly connected to the member’s purpose; and |
(d) |
the demand is reasonable. |
|
(3) |
Not later than 10 business days after receipt of a demand pursuant to Subsection (2), a limited cooperative association shall provide, in a record, the following information to the member that made the demand:
(a) |
if the association agrees to provide the demanded information:
(i) |
what information the association will provide in response to the demand; and |
(ii) |
a reasonable time and place at which the association will provide the information; or |
|
(b) |
if the association declines to provide some or all of the demanded information, the association’s reasons for declining. |
|
(4) |
A person dissociated as a member may obtain, inspect, and copy information available to a member under Subsection (1) or (2) by delivering a demand in a record to the limited cooperative association in the same manner and subject to the same conditions applicable to a member under Subsection (2) if:
(a) |
the information pertains to the period during which the person was a member in the association; and |
(b) |
the person seeks the information in good faith. |
|
(5) |
A limited cooperative association shall respond to a demand made pursuant to Subsection (4) in the manner provided in Subsection (3). |
(6) |
Not later than 10 business days after receipt by a limited cooperative association of a demand made by a member in a record, but not more often than once in a six-month period, the association shall deliver to the member a record stating the information with respect to the member required by Subsection 16-16-114(1)(q). |
(7) |
A limited cooperative association may impose reasonable restrictions, including nondisclosure restrictions, on the use of information obtained under this section. In a dispute concerning the reasonableness of a restriction under this Subsection (7), the association has the burden of proving reasonableness. |
(8) |
A limited cooperative association may charge a person that makes a demand under this section reasonable costs of copying, limited to the costs of labor and material. |
(9) |
A person that may obtain information under this section may obtain the information through an attorney or other agent. A restriction imposed on the person under Subsection (7) or by the organic rules applies to the attorney or other agent. |
(10) |
The rights stated in this section do not extend to a person as transferee. |
(11) |
The organic rules may require a limited cooperative association to provide more information than required by this section and may establish conditions and procedures for providing the information. |
Enacted by Chapter 363, 2008 General Session