Utah § 16-10a-1902 Shareholder cause of action -- Relief.

Utah Statutes

§ 16-10a-1902 — Shareholder cause of action -- Relief.

Utah § 16-10a-1902

Title 16Corporations

Ch. 16-10aUtah Revised Business Corporation Act

Part 16-10a-19Oppressive Conduct in a Closely Held Corporation

This text of Utah § 16-10a-1902 (Shareholder cause of action -- Relief.) is published on Counsel Stack Legal Research, covering Utah primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Utah Code Ann. § 16-10a-1902 (2026).

Text

(1)A shareholder of a closely held corporation who is injured by oppressive conduct may bring a private cause of action against the closely held corporation.

(2)(2)(a) If a court finds that oppressive conduct toward the shareholder occurred, the court shall order one or more persons described in Subsection (2)(b) to purchase the injured shareholder's shares in the closely held corporation at fair value.

(2)(b) A court may order that any of the following purchase the shares of the shareholder as described in Subsection (2)(a):

(2)(b)(i) the closely held corporation;

(2)(b)(ii) an officer of the closely held corporation;

(2)(b)(iii) a director of the closely held corporation; or

(2)(b)(iv) a shareholder of the closely held corporation that is responsible for the oppressive conduct.

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(1) A shareholder of a closely held corporation who is injured by oppressive conduct may bring a private cause of action against the closely held corporation.
(2) (2)(a) If a court finds that oppressive conduct toward the shareholder occurred, the court shall order one or more persons described in Subsection (2)(b) to purchase the injured shareholder's shares in the closely held corporation at fair value.
(2)(b) A court may order that any of the following purchase the shares of the shareholder as described in Subsection (2)(a):
(2)(b)(i) the closely held corporation;
(2)(b)(ii) an officer of the closely held corporation;
(2)(b)(iii) a director of the closely held corporation; or
(2)(b)(iv) a shareholder of the closely held corporation that is responsible for the oppressive conduct.