Utah Code 7-3-30. Board of directors to manage business — Residency of directors
Current as of: 2023 | Check for updates
|
Other versions
Terms Used In Utah Code 7-3-30
- Banking business: means the offering of deposit accounts to the public and the conduct of such other business activities as may be authorized by this title. See Utah Code 7-1-103
- 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.
- State: means , unless the context demands otherwise:
(a) a state; (b) the District of Columbia; or (c) the territories of the United States. See Utah Code 7-1-103 The business and affairs of a corporation conducting a banking business shall be managed by its board of directors. Directors are not required to be residents of this state or shareholders of the corporation unless its articles of incorporation or bylaws so require.Enacted by Chapter 16, 1981 General Session