58-28-606. Veterinary corporations, partnerships, and limited liability companies — Unlicensed individuals — Ownership of capital stock — Service as officer or director.
| (1) |
As used in this section:
Terms Used In Utah Code 58-28-606- 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.
- 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.
- Person: means :Utah Code 68-3-12.5
| (a) |
“Veterinary corporation” means a professional corporation organized to render veterinary services under Title 16, Chapter 11, Professional Corporation Act. |
| (c) |
“Veterinary partnership” means a partnership or limited liability partnership organized to render veterinary services under:
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| (2) |
A veterinary corporation may issue or transfer shares of the veterinary corporation’s capital stock to a person that is not licensed to practice veterinary medicine, surgery, and dentistry under this chapter. |
| (3) |
An individual who is not licensed to practice veterinary medicine, surgery, and dentistry under this chapter:
| (a) |
may not serve as an officer or director of a veterinary corporation; and |
| (b) |
may serve as secretary or treasurer of a veterinary corporation. |
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| (4) |
A veterinary limited liability company or a veterinary partnership may include an individual who is not licensed to practice veterinary medicine, surgery, and dentistry under this chapter. |
Amended by Chapter 354, 2020 General Session
