(1)  A statement of interest exchange must be signed by a domestic acquired limited partnership and delivered to the division for filing.

Terms Used In Utah Code 48-2e-1135

  • Certificate of limited partnership: means the certificate required by Section 48-2e-201. See Utah Code 48-2e-102
  • Division: means the Division of Corporations and Commercial Code. See Utah Code 48-2e-102
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • Limited partnership: means an entity formed under this chapter or which becomes subject to this chapter under 11, or Section 48-2e-1205. See Utah Code 48-2e-102
  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
(2)  A statement of interest exchange must contain:

(a)  the name of the acquired limited partnership;

(b)  the name, jurisdiction of formation, and type of entity of the acquiring entity;

(c)  a statement that the plan of interest exchange was approved by the acquired entity in accordance with Sections 48-2e-1131 through 48-2e-1136; and

(d)  any amendments to the acquired limited partnership’s certificate of limited partnership approved as part of the plan of interest exchange.

(3)  In addition to the requirements of Subsection (2), a statement of interest exchange may contain any other provision not prohibited by law.

(4)  A plan of interest exchange that is signed by a domestic acquired limited partnership and meets all the requirements of Subsection (2) may be delivered to the division for filing instead of a statement of interest exchange and on filing has the same effect. If a plan of interest exchange is filed as provided in this Subsection (4), references in this part to a statement of interest exchange refer to the plan of interest exchange filed under this Subsection (4).

Enacted by Chapter 412, 2013 General Session