{"data":{"id":"us-ut/utah-code-16-16-604","jurisdiction":"us-ut","citation":"Utah Code § 16-16-604","heading":"Security interest and set-off.","body":"(1) A member or transferee may create an enforceable security interest in its financial rights in a limited cooperative association.\n(2) Unless the organic rules otherwise provide, a member may not create an enforceable security interest in the member's governance rights in a limited cooperative association.\n(3) The organic rules may provide that a limited cooperative association has a security interest in the financial rights of a member to secure payment of any indebtedness or other obligation of the member to the association. A security interest provided for in the organic rules is enforceable under, and governed by, Title 70A, Chapter 9a, Uniform Commercial Code - Secured Transactions.\n(4) Unless the organic rules otherwise provide, a member may not compel the limited cooperative association to offset financial rights against any indebtedness or obligation owed to the association.","path":["Title 16 Corporations","Chapter 16-16 Uniform Limited Cooperative Association Act","Part 16-16-6 Member's Interest in Limited Cooperative Association"],"source_url":"https://le.utah.gov/xcode/Title16/Chapter16/16-16-S604.html","current_through":"2026 General Session","vintage":"","retrieved_at":"2026-09-03T11:34:33Z","sha256":"4326e937b352845a9783e8ca97746fd7c619a035202f5931f3b48615e5b09e92","source_id":"us-ut","stale":false,"prev":"us-ut/utah-code-16-16-603","next":"us-ut/utah-code-16-16-605"},"notice":"GroundRules: Original legal text. Not legal advice."}