If a special meeting is requested, notice of the special meeting of shareholders shall be given as promptly as reasonably practicable by the issuing public corporation to all shareholders of record as of the record date set for the meeting, whether or not they are entitled to vote at the meeting.
Terms Used In Utah Code 61-6-9
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.
issuing public corporation: means a corporation, other than a depository institution, that is organized under the laws of this state and that has:
(a)
100 or more shareholders;
(b)
its principal place of business, its principal office, or substantial assets within the state; and
(c)
(i)
more than 10% of its shareholders resident in the state;
(ii)
more than 10% of its shares owned by Utah residents; or
Notice of the special or annual shareholder meeting at which the voting rights are to be considered must include or be accompanied by the following:
(a)
a copy of the acquiring person statement delivered to the issuing public corporation; and
(b)
a statement by the board of directors of the corporation, authorized by its directors, of its position or recommendation, or that it is taking no position or making no recommendation, with respect to the proposed control share acquisition.
Enacted by Chapter 2, 1987 Special Session 1 Enacted by Chapter 2, 1987 Special Session 1
