Utah Code 7-2-16. Interim ratable dividends
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Terms Used In Utah Code 7-2-16
- Commissioner: means the Commissioner of Financial Institutions. See Utah Code 7-1-103
- court: means the court given jurisdiction by this provision. See Utah Code 7-2-2
- Person: means :
(a) an individual; (b) a corporation; (c) a limited liability company; (d) a partnership; (e) a trust; (f) an association; (g) a joint venture; (h) a pool; (i) a syndicate; (j) a sole proprietorship; (k) an unincorporated organization; or (l) any form of business entity. See Utah Code 7-1-103 At any time after the expiration of the date fixed for the presentation of claims and prior to the declaration of a final dividend the commissioner may, out of the funds remaining in his hands after the payment of expenses, declare and pay, subject to their priorities established under Section 7-2-15, one or more interim ratable dividends to any person and in the amount and upon such notice as the court directs.Amended by Chapter 267, 1989 General Session