(1)  A nonprofit corporation shall be dissolved upon and by reason of the expiration of its period of duration, if any, stated in its articles of incorporation.

non profit

Need help reviewing 501c forms?
Have it reviewed by a lawyer, get answers to your questions and move forward with confidence.
Connect with a lawyer now

Terms Used In Utah Code 16-6a-1418

  • Articles of incorporation: include :
(a) amended articles of incorporation;
(b) restated articles of incorporation;
(c) articles of merger; and
(d) a document of a similar import to the documents described in Subsections (3)(a) through (c). See Utah Code 16-6a-102
  • 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.
    • (2)  For purposes of this section:

    (a)  a provision in the articles of incorporation is considered a provision for a period of duration if it is to the effect that the nonprofit corporation or its existence shall be terminated:

    (i)  at a specified date;

    (ii)  after a stated period of time;

    (iii)  upon a contingency; or

    (iv)  any event similar to those described in Subsections (2)(a)(i) through (iii); and

    (b)  the following shall be considered to be the expiration of the nonprofit corporation’s period of duration:

    (i)  the occurrence of the specified date;

    (ii)  the expiration of the stated period of time;

    (iii)  the occurrence of the contingency; or

    (iv)  the satisfaction of the provision described in Subsection (2)(a)(iv).

    Enacted by Chapter 300, 2000 General Session

      Previous section
    Next section  
     Part 14 Contents