16-16-407 - Amendment or restatement of articles of organization -- Filing.
16-16-407. Amendment or restatement of articles of organization -- Filing.
(1) To amend its articles of organization, a limited cooperative association shall deliverto the division for filing an amendment of the articles, or restated articles of organization orarticles of conversion or merger pursuant to Part 16, Conversion and Merger, which contain oneor more amendments of the articles of organization, stating:
(a) the name of the association;
(b) the date of filing of the association's initial articles; and
(c) the changes the amendment makes to the articles as most recently amended orrestated.
(2) Before the beginning of the initial meeting of the board of directors, an organizer whoknows that information in the filed articles of organization was inaccurate when the articles werefiled or has become inaccurate due to changed circumstances shall promptly:
(a) cause the articles to be amended; or
(b) if appropriate, deliver an amendment to the division for filing pursuant to Section16-16-203.
(3) If restated articles of organization are adopted, the restated articles may be deliveredto the division for filing in the same manner as an amendment.
(4) Upon filing, an amendment of the articles of organization or other record containingan amendment of the articles which has been properly adopted by the members is effective asprovided in Subsection 16-16-203(3).
Amended by Chapter 378, 2010 General Session