16-4-205.   Notice of assessment -- Form and contents.
     When the board of directors levies an assessment, the secretary shall prepare a notice of assessment, 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 the assessment;
     (4) a description of the class or classes of shares assessed, and the amount of assessment per 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 for the assessments is set forth in the order; and
     (8) a general statement that the board of directors may elect various remedies to enforce payment, including the auctioning of shares.

Enacted by Chapter 367, 2007 General Session
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Last revised: Wednesday, July 23, 2008