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