Utah Code 48-3a-907. Withdrawal deemed on conversion to domestic filing entity or domestic limited liability partnership
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Terms Used In Utah Code 48-3a-907
- Division: means the Division of Corporations and Commercial Code. See Utah Code 48-3a-102
- Foreign limited liability company: means an unincorporated entity formed under the law of a jurisdiction other than this state, which would be a limited liability company, including a low-profit limited liability company, if formed under the law of this state. See Utah Code 48-3a-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.
A registered foreign limited liability company that converts to a domestic limited liability partnership or to a domestic entity that is organized, incorporated, or otherwise formed through the delivery of a record to the division for filing is deemed to have withdrawn its registration on the effective date of the conversion.
Enacted by Chapter 412, 2013 General Session