§ 48-3a-103 — Knowledge -- Notice.

(1) A person knows a fact if the person:

(1)(a) has actual knowledge of it; or
(1)(b) is deemed to know it under Subsection (4)(a) or law other than this chapter.
(2) A person has notice of a fact if the person:

(2)(a) has reason to know the fact from all the facts known to the person at the time in question; or
(2)(b) is deemed to have notice of the fact under Subsection (4)(b).
(3) Subject to Subsection 48-3a-209(6), a person notifies another person of a fact by taking steps reasonably required to inform the other person in ordinary course, whether or not those steps cause the other person to know the fact.
(4) A person not a member is deemed:

(4)(a) to know of a limitation on authority to transfer real property as provided in Subsection 48-3a-302(7); and
(4)(b) to have notice of a limited liability company's:
(4)(b)(i) dissolution 90 days after a statement of dissolution under Subsection 48-3a-703(2)(b)(i) becomes effective;
(4)(b)(ii) termination 90 days after a statement of termination under Subsection 48-3a-703(2)(b)(vi) becomes effective;
(4)(b)(iii) participation in a merger, interest exchange, conversion, or domestication 90 days after a statement of merger, interest exchange, conversion, or domestication under Part 10, Merger, Interest Exchange, Conversion, and Domestication, becomes effective; and
(4)(b)(iv) abandonment of a merger, interest exchange, conversion, or domestication 90 days after a statement of abandonment of merger, interest exchange, conversion, or domestication under Part 10, Merger, Interest Exchange, Conversion, and Domestication, becomes effective.

Legislative History

Enacted by Chapter 412, 2013 General Session