Utah § 25-6-403 Application to series organization.

Utah Statutes

§ 25-6-403 — Application to series organization.

Utah § 25-6-403

Title 25Fraud

Ch. 25-6Uniform Voidable Transactions Act

Part 25-6-4Applicability and Construction

This text of Utah § 25-6-403 (Application to series organization.) 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. § 25-6-403 (2026).

Text

(1)As used in this section:

(1)(a) "Protected series" means an arrangement, however denominated, created by a series organization that, pursuant to the law under which the series organization is organized, has the characteristics described in Subsection (1)(b).

(1)(b) "Series organization" means an organization that, pursuant to the law under which it is organized, has the following characteristics:

(1)(b)(i) the organic record of the organization provides for creation by the organization of one or more protected series, however denominated, with respect to specified property of the organization, and for records to be maintained for each protected series that identify the property of or associated with the protected series;

(1)(b)(ii) debt incurred or existing with respect to the activit

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(1) As used in this section:

(1)(a) "Protected series" means an arrangement, however denominated, created by a series organization that, pursuant to the law under which the series organization is organized, has the characteristics described in Subsection (1)(b).
(1)(b) "Series organization" means an organization that, pursuant to the law under which it is organized, has the following characteristics:
(1)(b)(i) the organic record of the organization provides for creation by the organization of one or more protected series, however denominated, with respect to specified property of the organization, and for records to be maintained for each protected series that identify the property of or associated with the protected series;
(1)(b)(ii) debt incurred or existing with respect to the activities of, or property of or associated with, a particular protected series is enforceable against the property of or associated with the protected series only, and not against the property of or associated with the organization or other protected series of the organization; and
(1)(b)(iii) debt incurred or existing with respect to the activities or property of the organization is enforceable against the property of the organization only, and not against the property of or associated with a protected series of the organization.
(2) A series organization and each protected series of the organization is a separate person for purposes of this chapter, even if for other purposes a protected series is not a person separate from the organization or other protected series of the organization.