Current through the 2024 Fourth Special Session
(1) Use of the term "cooperative" or its abbreviation under this chapter is not a violation of the provisions restricting the use of the term under any other law of this state.(2)(a) Notwithstanding Section 48-2e-108, as appropriate pursuant to Section 48-2e-1205, the name of a limited cooperative association shall contain:(i) the words "limited cooperative association" or "limited cooperative"; or(ii) the abbreviation "L.C.A." or "LCA".(b) "Cooperative" may be abbreviated as "Co-op" or "Coop".(c) "Association" may be abbreviated as "Assoc." or "Assn."(d) "Limited" may be abbreviated as "Ltd."(e)(i) Use of the term "cooperative" or its abbreviation as permitted by this chapter is not a violation of the provisions restricting the use of the term under any other law of this state.(ii) A limited cooperative association or a member may enforce the restrictions on the use of the term "cooperative" under this chapter and any other law of this state.(iii) A limited cooperative association or a member may enforce the restrictions on the use of the term "cooperative" under any other law of this state.(3) Except as otherwise provided in Subsection (4), a limited cooperative association may use only a name that is available. A name is available if it is distinguishable in the records of the division from: (a) the name of any entity organized or authorized to transact business in this state;(b) a name reserved under Section 16-16-112; and(c) an alternative name approved for a foreign cooperative authorized to transact business in this state.(4) A limited cooperative association may apply to the division for authorization to use a name that is not available. The division shall authorize use of the name if: (a) the person with ownership rights to use the name consents in a record to the use and applies in a form satisfactory to the division to change the name used or reserved to a name that is distinguishable upon the records of the division from the name applied for; or(b) the applicant delivers to the division a certified copy of the final judgment of a court establishing the applicant's right to use the name in this state.Amended by Chapter 281, 2018 General Session ,§ 6, eff. 5/8/2018.Amended by Chapter 412, 2013 General Session ,§ 7, eff. 7/1/2013.Amended by Chapter 353, 2011 , 2011 General Session