Utah Code 16-6a-604. Consideration
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Unless otherwise provided by the bylaws, a nonprofit corporation may admit members:
(1) for no consideration; or
Terms Used In Utah Code 16-6a-604
- board of directors: means the body authorized to manage the affairs of a domestic or foreign nonprofit corporation. See Utah Code 16-6a-102
- Bylaws: includes :(6)(b)(i) amended bylaws; and(6)(b)(ii) restated bylaws. See Utah Code 16-6a-102
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
(2) for such consideration as is determined by the board of directors.