The appointment of an officer does not itself create contract rights.
Need help reviewing 501c forms? Have it reviewed by a lawyer, get answers to your questions and move forward with confidence. Connect with a lawyer now
Terms Used In Utah Code 16-6a-821
Contract: A legal written agreement that becomes binding when signed.
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.
(2)
(a)
An officer’s removal does not affect the officer’s contract rights, if any, with the nonprofit corporation.
(b)
An officer’s resignation does not affect the nonprofit corporation’s contract rights, if any, with the officer.
