Section 1014 - Amendment terminating members or redeeming or canceling memberships.

UT Code § 16-6a-1014 (2019) (N/A)
Copy with citation
Copy as parenthetical citation

(1) An amendment to the articles of incorporation or bylaws of a nonprofit corporation shall meet the requirements of this chapter and this section if the amendment would: (a) terminate all members or any class of members; or (b) redeem or cancel all memberships or any class of memberships.

(a) terminate all members or any class of members; or

(b) redeem or cancel all memberships or any class of memberships.

(2) Before adopting a resolution proposing an amendment as described in Subsection (1), the board of directors of a nonprofit corporation shall give notice of the general nature of the amendment to the members.