{"data":{"id":"us-ut/utah-code-16-16-105","jurisdiction":"us-ut","citation":"Utah Code § 16-16-105","heading":"Purpose and duration of limited cooperative association.","body":"(1) A limited cooperative association is an entity distinct from its members.\n(2) A limited cooperative association may be organized for any lawful purpose, whether or not for profit, except for the operation of a financial institution as defined in Section 7-1-103.\n(3) Unless the articles of organization state a term for a limited cooperative association's existence, the association has perpetual duration.","path":["Title 16 Corporations","Chapter 16-16 Uniform Limited Cooperative Association Act","Part 16-16-1 General Provisions"],"source_url":"https://le.utah.gov/xcode/Title16/Chapter16/16-16-S105.html","current_through":"2026 General Session","vintage":"","retrieved_at":"2026-09-03T11:34:33Z","sha256":"7ba1df4a76df140eb2d6b0239ddc9adf6d5012b493f786488ace2ecd026e81f0","source_id":"us-ut","stale":false,"prev":"us-ut/utah-code-16-16-104","next":"us-ut/utah-code-16-16-106"},"notice":"GroundRules: Original legal text. Not legal advice."}