(1)  Unless otherwise provided by the bylaws, a member may resign at any time.

non profit

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Terms Used In Utah Code 16-6a-608

  • Bylaws: includes :
(i) amended bylaws; and
(ii) restated bylaws. See Utah Code 16-6a-102
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Member: includes :
    (i) "voting member"; and
    (ii) a shareholder in a water company. See Utah Code 16-6a-102
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
    • (2)  The resignation of a member does not relieve the member from any obligation or commitment the member may have to the nonprofit corporation incurred or made prior to resignation.

    Enacted by Chapter 300, 2000 General Session

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