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Corporations | |
Share Assessment Act | |
Section 201 | Assessments. |
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16-4-201. Assessments. (1) The shares of a nonprofit corporation are subject to assessment for any corporate purpose, 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 |
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