Utah Code 16-13-1. Organization of development corporations under Utah Revised Business Corporation Act — Corporate name
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Terms Used In Utah Code 16-13-1
- 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.
Corporations to conduct a development business as specified in this act may be formed under the provisions of Title 16, Chapter 10a, Utah Revised Business Corporation Act, and all the rights, privileges, and powers and all the duties and obligations of such corporations and of the officers and stockholders thereof shall be as provided in Title 16, Chapter 10a, Utah Revised Business Corporation Act, except as otherwise provided in this act. The name of any corporation organized in accordance with the provisions of this act shall include the words “business development corporation.”
Amended by Chapter 6, 1992 Special Session 3
Amended by Chapter 6, 1992 Special Session 3