Utah Code 48-3a-106. Governing law

Current as of: 2023 | Check for updates | Other versions

The law of this state governs:

(1)	the internal affairs of a limited liability company; and

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Terms Used In Utah Code 48-3a-106

Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
Manager: means a person that under the operating agreement of a manager-managed limited liability company is responsible, alone or in concert with others, for performing the management functions stated in Subsection 48-3a-407(3). See Utah Code 48-3a-102
Member: means a person that:

(a)	has become a member of a limited liability company under Section 48-3a-401 or was a member in a company when the company became subject to this chapter under Section 48-3a-1405; and

(b)	has not dissociated under Section 48-3a-602. See Utah Code 48-3a-102 State: means a state of the United States, the District of Columbia, Puerto Rico, the United States Virgin Islands, or any territory or insular possession subject to the jurisdiction of the United States. See Utah Code 48-3a-102
(2)	the liability of a member as member and a manager as manager for the debts, obligations, or other liabilities of a limited liability company.

Enacted by Chapter 412, 2013 General Session

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