Utah Code 48-4-102. Application and effect of chapter

48-4-102. Application and effect of chapter.

(1)	This chapter applies to a benefit company organized under this chapter.

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Terms Used In Utah Code 48-4-102

Benefit company: means a limited liability company:

(a)	that elects to become subject to this chapter; and

(b)

the status of which as a benefit company has not been terminated. See Utah Code 48-4-103

Statute: A law passed by a legislature.

(2)

(a)	The existence of a provision in this chapter does not itself create an implication that a contrary or different rule of law is applicable to a limited liability company that is not a benefit company.

(b)	This chapter does not affect a statute or rule of law that is applicable to a limited liability company that is not a benefit company.

(3)

(a)	Except as otherwise provided in this chapter, Title 48, Chapter 3a, Utah Revised Uniform Limited Liability Company Act, applies to a benefit company.

(b)	The provisions of this chapter control over any inconsistent provision of Title 48, Chapter 3a, Utah Revised Uniform Limited Liability Company Act.

(4)	The operating agreement of a benefit company may not limit, be inconsistent with, or supersede a provision of this chapter.

Amended by Chapter 136, 2019 General Session

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