Current through the 2024 Fourth Special Session
Section 16-6a-611 - Property rights(1) A member has no right relating to management, control, purpose, or duration of the nonprofit corporation, except as provided by: (a) the articles of incorporation or the bylaws of a mutual benefit corporation; or(b) other applicable law.(2) Unless otherwise provided by agreement, articles of incorporation, or the bylaws of a water company, and subject to the general liabilities and obligations of the water company, a shareholder in a water company has: (a) an equitable, beneficial interest in the use of the water supply of the water company, proportionate to the shareholder's shares in the water company, which is an interest in real property; and(b) the right to have the shareholder's proportionate share of the water delivered through a diversion structure, ditch, canal, storage and distribution facility, or other appurtenance of the water company, in accordance with: (i) the distribution method of the water company; or(ii) an approved change application under Section 73-3-3.5.Amended by Chapter 358, 2017 General Session ,§ 4, eff. 5/9/2017.Amended by Chapter 240, 2015 General Session ,§ 6, eff. 5/12/2015.Amended by Chapter 315, 2007 General Session