Utah Statutes

§ 25-6-102 — Definitions.

Utah·Title 25 Fraud·Ch. 25-6 Uniform Voidable Transactions Act·Part 25-6-1 General Provisions

As used in this chapter:

(1)"Affiliate" means:
(1)(a) a person that directly or indirectly owns, controls, or holds with power to vote, 20% or more of the outstanding voting securities of the debtor, other than a person that holds the securities:
(1)(a)(i) as a fiduciary or agent without sole discretionary power to vote the securities; or
(1)(a)(ii) solely to secure a debt, if the person has not exercised the power to vote;
(1)(b) a corporation 20% or more of whose outstanding voting securities are directly or indirectly owned, controlled, or held with power to vote, by the debtor or a person that directly or indirectly owns, controls, or holds, with power to vote, 20% or more of the outstanding voting securities of the debtor, other than a person that holds the securities:
(1)(b)(i) as

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Legislative History

Renumbered and Amended by Chapter 204, 2017 General Session

Nearby Sections

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