Utah § 16-11-6 Purpose of professional corporation -- Power to own property and invest funds.

Utah Statutes

§ 16-11-6 — Purpose of professional corporation -- Power to own property and invest funds.

Utah § 16-11-6

Title 16Corporations

Ch. 16-11Professional Corporation Act

This text of Utah § 16-11-6 (Purpose of professional corporation -- Power to own property and invest funds.) 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. § 16-11-6 (2026).

Text

(1)A professional corporation may be organized pursuant to the provisions of this chapter only for the purpose of rendering one specific type of professional service and services ancillary to the specific type of professional service and may not engage in any business other than rendering the professional service that it was organized to render and services ancillary to the specific type of professional service.

(2)Notwithstanding Subsection (1), a professional corporation may:

(2)(a) own real and personal property necessary or appropriate for rendering the type of professional service it was organized to render;

(2)(b) invest its funds in real estate, mortgages, stocks, bonds, and any other type of investments; and

(2)(c) if a benefit corporation, have as a purpose creating a general p

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(1) A professional corporation may be organized pursuant to the provisions of this chapter only for the purpose of rendering one specific type of professional service and services ancillary to the specific type of professional service and may not engage in any business other than rendering the professional service that it was organized to render and services ancillary to the specific type of professional service.
(2) Notwithstanding Subsection (1), a professional corporation may:

(2)(a) own real and personal property necessary or appropriate for rendering the type of professional service it was organized to render;
(2)(b) invest its funds in real estate, mortgages, stocks, bonds, and any other type of investments; and
(2)(c) if a benefit corporation, have as a purpose creating a general public benefit and a specific public benefit as provided in Chapter 10b, Benefit Corporation Act.