Terms Used In Utah Code 16-10b-104

• Benefit corporation: means a business corporation:

  (a)	that elects to become subject to this chapter; and

  (b)

  the status of which as a benefit corporation has not been terminated. See Utah Code 16-10b-103 Corporation: 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. Person: means :Utah Code 68-3-12.5 State: when applied to the different parts of the United States, includes a state, district, or territory of the United States. See Utah Code 68-3-12.5 16-10b-104.  Incorporation of benefit corporation.      A person shall incorporate a benefit corporation in accordance with 2, but its articles of incorporation shall also state that it is a benefit corporation. Enacted by Chapter 394, 2014 General Session   Previous section Next section    Part 1 Contents