State Codes and Statutes

Statutes > Utah > Title-48 > Chapter-02c > 48-2c-902

48-2c-902. Assessments for additional contributions.
Except as otherwise provided in the articles of organization, operating agreement, or otherwriting binding on the members, no additional contributions shall be required of any member andno member shall be subject to assessment for additional contributions to the company. Nevertheless, where an assessment obligation is provided for, the obligation shall not beconstrued as conferring any rights upon any creditor or upon any person not a party to theoperating agreement.

Enacted by Chapter 260, 2001 General Session