Utah Code 63E-2-111. State liability
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Terms Used In Utah Code 63E-2-111
- 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.
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
- State: when applied to the different parts of the United States, includes a state, district, or territory of the United States. See Utah Code 68-3-12.5
- Statute: A law passed by a legislature.
Except as expressly provided in this title or in an authorizing statute, the state is not liable for any independent corporation‘s obligations, expenses, debts, and liabilities.
Enacted by Chapter 201, 2001 General Session