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House committee backs bill moving water‑share transfer rules to corporate code
Summary
The House Natural Resources, Agriculture and Environment Committee gave a favorable recommendation to HB 494 as amended, moving legal treatment of water‑company shares into corporate law to reduce court confusion; the state engineer and Farm Bureau testified and a sponsor amendment corrected drafting language.
The House Natural Resources, Agriculture and Environment Standing Committee voted Feb. 23 to give HB 494 a favorable recommendation after adopting a technical amendment.
The bill, presented as a cleanup measure by the Utah Farm Bureau Federation and sponsored in committee, moves statutory provisions dealing with transfers of shares in irrigation and water companies from the water code into the corporate code. Theresa Wilhelmsen, State Engineer and Director of the Division of Water Rights, told the committee the change is intended to keep share‑ownership and title issues with the companies that…
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