Transcription of Utah Code Part 1 Utah Revised Uniform Limited Liability ...
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Utah Code Part 1 Utah Revised Uniform Limited Liability ...
Utah CodePage 1 Chapter 3aUtah Revised Uniform Limited Liability Company ActPart 1 General Provisions48-3a-101 Title. This chapter may be cited as the "Utah Revised Uniform Limited Liability Company Act."Enacted by Chapter 412, 2013 General Session48-3a-102 Definitions. As used in this chapter:(1) "Certificate of organization" means the certificate required by Section 48-3a-201. The termincludes the certificate as amended or restated.(2) "Contribution," except in the phrase "right of contribution," means property or a benefitdescribed in Section 48-3a-402, which is provided by a person to a Limited Liability company tobecome a member or in the person's capacity as a member.(3) "Debtor in bankruptcy" means a person that is the subject of:(a) an order for relief under Title 11 of the United States Code or a comparable order under asuccessor statute of general application; or(b) a comparable order under federal, state, or foreign law governing insolvency.
48-3a-104 Nature, purpose, and duration of limited liability company. (1) A limited liability company is an entity distinct from its member or members. (2) A limited liability company may have any lawful purpose, regardless of whether for profit.
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