16-4-205 - Notice of assessment -- Form and contents.
16-4-205. Notice of assessment -- Form and contents.
When the board of directors levies an assessment, the secretary shall prepare a notice ofassessment, including:
(1) the name of the corporation;
(2) the location of the corporation's principal place of business;
(3) the date of the meeting at which the board of directors adopted the order levying theassessment;
(4) a description of the class or classes of shares assessed, and the amount of assessmentper share;
(5) the time, place, and manner of payment;
(6) the day on which payment is considered delinquent;
(7) if assessments are not levied on an equal basis, a statement that the equitable basis forthe assessments is set forth in the order; and
(8) a general statement that the board of directors may elect various remedies to enforcepayment, including the auctioning of shares.
Enacted by Chapter 367, 2007 General Session