16-4-201 - Assessments.
16-4-201. Assessments.
(1) The shares of a nonprofit corporation are subject to assessment for any corporatepurpose, except to the extent proscribed by the articles of incorporation.
(2) The shares of a profit corporation are subject to assessment if:
(a) those shares were subject to assessment before May 1, 2007; and
(b) the assessment is not proscribed by the corporation's articles of incorporation.
Enacted by Chapter 367, 2007 General Session