63H-8-407. Act not restriction on powers of corporation — Construed as alternative — Bonds, notes, obligations issued need not comply with other laws.
| (1) |
Terms Used In Utah Code 63H-8-407- 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.
- Corporation: means the Utah Housing Corporation created by Section 63H-8-201, which, prior to July 1, 2001, was named the Utah Housing Finance Agency. See Utah Code 63H-8-103
- State: means the state of Utah. See Utah Code 63H-8-103
| (a) |
This chapter and its contents are not a restriction or limitation upon other powers that the corporation has under other laws of the state. |
| (b) |
This chapter is cumulative to the powers referenced in Subsection (1)(a). |
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| (2) |
This chapter provides a complete, additional, and alternative method for doing the things authorized in this chapter and is supplemental and additional to powers conferred by other laws. |
| (3) |
The issuance of bonds, notes, and other obligations under this chapter need not comply with the requirements of any other state law applicable to the issuance of bonds, notes, and other obligations. |
| (4) |
Proceedings, notice, or approval are not required for the issuance of bonds, notes, and other obligations or an instrument as security for them, except as provided in this chapter. |
Renumbered and Amended by Chapter 226, 2015 General Session
