Utah Statutes
§ 48-3a-1303 — Ceasing to be a low-profit limited liability company.
Utah·Title 48 Unincorporated Business Entity Act·Ch. 48-3a Utah Revised Uniform Limited Liability Company Act·Part 48-3a-13 Low-Profit Limited Liability Companies
(1)If a limited liability company that is a low-profit limited liability company at its formation at any time ceases to meet a requirement to be a low-profit limited liability company under Section 48-3a-1302, the limited liability company:
(1)(a) ceases to be a low-profit limited liability company on the day on which the limited liability company no longer meets the requirement; and
(1)(b) if it continues to meet the requirements of this chapter to be a limited liability company, continues to exist as a limited liability company that is not a low-profit limited liability company.
(2)A low-profit limited liability company's failure to meet a requirement of Section 48-3a-1302 may be:
(2)(a) voluntary, in order to convert to a limited liability company that is not a low-profit limited li
Free access — add to your briefcase to read the full text and ask questions with AI
Utah § 48-3a-1303 (Ceasing to be a low-profit limited liability company.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
Enacted by Chapter 412, 2013 General Session
Nearby Sections
15
§ 48-1c-101
Title.§ 48-1d-1001
Definitions.§ 48-1d-1002
Relationship of part to other laws.§ 48-1d-1003
Required notice or approval.§ 48-1d-1004
Status of filings.§ 48-1d-1005
Nonexclusivity.§ 48-1d-1006
Reference to external facts.§ 48-1d-1007
Alternative means of approval of transactions.§ 48-1d-1008
Appraisal rights.§ 48-1d-101
Title.§ 48-1d-102
Definitions.§ 48-1d-1021
Merger authorized.§ 48-1d-1022
Plan of merger.§ 48-1d-1023
Approval of merger.§ 48-1d-1024
Amendment or abandonment of plan of merger.