LegalFix

Section 43-119 - RIGHTS AND PRIVILEGES OF CORPORATIONS — LIMITED LIABILITY COMPANIES — PARTNERSHIPS — TRUSTS.

ID Code § 43-119 (2019) (N/A)
Copy with citation
Copy as parenthetical citation

43-119. RIGHTS AND PRIVILEGES OF CORPORATIONS — LIMITED LIABILITY COMPANIES — PARTNERSHIPS — TRUSTS. A corporation, the stock of which is owned entirely by natural persons related by blood or affinity, a limited liability company, in which all the members are natural persons related by blood or affinity, a partnership, in which all the partners are natural persons related by blood or affinity, and a trust, in which all of the beneficiaries are natural persons related by blood or affinity, shall have the same rights and privileges in the conduct of irrigation district business as do natural persons, including, but not limited to, voting in elections and signing petitions. A corporation shall vote or otherwise act through its majority shareholder; a limited liability company shall vote or otherwise act, if member-managed, through its member and, if manager-managed, through its manager; a partnership shall vote or otherwise act through its majority partner; a trust shall vote or otherwise act through its trustee. For voting purposes the residence of such person shall establish the residence of the corporation, limited liability company, partnership or trust. If there is no single majority stockholder, no single majority member, no single manager, no single majority partner or no single trustee, then the corporation, limited liability company, partnership or trust must furnish the irrigation district a written designation stating the name of the stockholder, manager or member, partner or trustee who is authorized to vote and otherwise act for the corporation, limited liability company, partnership or trust, respectively. If the majority or designated stockholder, manager or member, partner or trustee is married, his or her spouse shall have the same rights and privileges in the conduct of irrigation district business as do the spouses of individual land owners in the district. A person, or the spouse of a person, voting for a corporation, limited liability company, partnership or trust shall not be entitled to vote again as an individual.

History:

[43-119, added 1983, ch. 49, sec. 1, p. 120; am. 2010, ch. 142, sec. 1, p. 299; am. 2013, ch. 333, sec. 1, p. 870.]

LegalFix

Copyright ©2024 LegalFix. All rights reserved. LegalFix is not a law firm, is not licensed to practice law, and does not provide legal advice, services, or representation. The information on this website is an overview of the legal plans you can purchase—or that may be provided by your employer as an employee benefit or by your credit union or other membership group as a membership benefit.

LegalFix provides its members with easy access to affordable legal services through a network of independent law firms. LegalFix, its corporate entity, and its officers, directors, employees, agents, and contractors do not provide legal advice, services, or representation—directly or indirectly.

The articles and information on the site are not legal advice and should not be relied upon—they are for information purposes only. You should become a LegalFix member to get legal services from one of our network law firms.

You should not disclose confidential or potentially incriminating information to LegalFix—you should only communicate such information to your network law firm.

The benefits and legal services described in the LegalFix legal plans are not always available in all states or with all plans. See the legal plan Benefit Overview and the more comprehensive legal plan contract during checkout for coverage details in your state.

Use of this website, the purchase of legal plans, and access to the LegalFix networks of law firms are subject to the LegalFix Terms of Service and Privacy Policy.

We have updated our Terms of Service, Privacy Policy, and Disclosures. By continuing to browse this site, you agree to our Terms of Service, Privacy Policy, and Disclosures.
Section 43-119 - RIGHTS AND PRIVILEGES OF CORPORATIONS — LIMITED LIABILITY COMPANIES — PARTNERSHIPS — TRUSTS.