When the board of directors levies an assessment, the secretary shall prepare a notice of assessment, including:

1. (1) the name of the corporation;
2. (2) the location of the corporation's principal place of business;
3. (3) the date of the meeting at which the board of directors adopted the order levying the assessment;
4. (4) a description of the class or classes of shares assessed, and the amount of assessment per share;
5. (5) the time, place, and manner of payment;
6. (6) the day on which payment is considered delinquent;
7. (7) if assessments are not levied on an equal basis, a statement that the equitable basis for the assessments is set forth in the order; and
8. (8) a general statement that the board of directors may elect various remedies to enforce payment, including the auctioning of shares.

Enacted by Chapter 367, 2007 General Session