Bill > SB0040

This bill amends Utah law concerning business entities by clarifying definitions and responsibilities within the Division of Corporations and Commercial Code, and by updating various provisions related to business entity filings, names, registered agents, foreign entities, administrative dissolution, mergers, interest exchanges, conversions, domestications, and partnerships. Key changes include renumbering and reorganizing sections within Title 13 and Title 16, defining terms like "acquired entity," "acquiring entity," "business corporation," and "governor," and establishing clearer procedures for filing documents, reserving names, registering foreign entities, and managing registered agents. The bill also revises rules for mergers, interest exchanges, conversions, and domestications, ensuring consistency across different business entity types, and updates provisions for partnerships and limited liability companies, including their formation, management, contributions, distributions, dissociation, dissolution, and winding up. Importantly, it clarifies the application of general business entity provisions to specific entity types like nonprofit corporations, partnerships, and limited liability companies, and updates references to federal laws and other state statutes.

Business and Industry

https://le.utah.gov/~2026/bills/static/SB0040.html