(c) | a document of a similar import to those described in Subsections (4)(a) and (b). See Utah Code 16-10a-102Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.Fiduciary: A trustee, executor, or administrator.Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.Notice: is a s provided in Section 16-10a-103. See Utah Code 16-10a-102Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.Share: means the unit into which the proprietary interests in a corporation are divided. See Utah Code 16-10a-102 |
(2) |
Except as otherwise ordered by a court of competent jurisdiction upon a finding that the purpose of this subsection would not be violated in the circumstances presented to the court, the shares of a corporation are not entitled to be voted or to be counted in determining the total number of outstanding shares eligible to be voted if they are owned, directly or indirectly, by a second corporation, domestic or foreign, and the first corporation owns, directly or indirectly, a majority of the shares entitled to vote for directors of the second corporation. |