Utah Statutes
§ 76-16-208 — Illegal concurrence by a director in a dividend or division of capital.
Utah·Title 76 Utah Criminal Code·Ch. 76-16 Offenses Concerning Business Practices·Part 76-16-2 Corporation and Association Offenses
(1)(1)(a) For purposes of this section, "director" does not include a director of:
(1)(a)(i) a savings and loan association; or
(1)(a)(ii) a building and loan association.
(1)(b) Terms defined in Sections 76-1-101.5, 76-16-101, and 76-16-201 apply to this section.
(2)An actor commits illegal concurrence by a director in a dividend or division of capital if the actor:
(2)(a) is a director of a stock corporation; and
(2)(b) concurs in a vote or act of one or more directors of the corporation, which vote or act is intended to either:
(2)(b)(i) make a dividend except as permitted by Title 16, Chapter 10a, Utah Revised Business Corporation Act; or
(2)(b)(ii) divide, withdraw, or in any manner pay to one or more stockholders any part of the stated capital of the corporation except as permitted
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Utah § 76-16-208 (Illegal concurrence by a director in a dividend or division of capital.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
Renumbered and Amended by Chapter 173, 2025 General Session
Nearby Sections
15
§ 76-1-101
Short title.§ 76-1-101.5
Definitions.§ 76-1-101.6
Application of definitions to title.§ 76-1-102
Effective date.§ 76-1-104
Purposes and principles of construction.§ 76-1-105
Common law crimes abolished.§ 76-1-106
Strict construction rule not applicable.§ 76-1-108
Severability clause.§ 76-1-201
Jurisdiction of offenses.§ 76-1-202
Venue of actions.