Senator Lyle W. Hillyard
proposes the following amendments:
1. Page
45, Lines 1361 through 1363
:
1361
(ii) Title 42, Names; or
1362
(iii) on or before
{
June 30, 2014
}
December 31, 2013
, Title 48, Partnership, and on and after
{
July
}
January
1, 2014,
1363
Title 48, Unincorporated Business [Entities] Entity Act; or
2. Page
47, Lines 1431 through 1433
:
1431
Until this chapter is repealed January 1, 2016, this chapter applies only to a partnership
1432
formed on or before
{
June 30, 2014
}
December 31, 2013
, that has not elected to be governed by
Chapter 1d, Utah
1433
Uniform Partnership Act, as provided in Section
48-1d-1405
.
3. Page
101, Lines 3119 through 3125
:
3119
(31) "Protected agreement" means:
3120
(a) a record evidencing indebtedness and any related agreement in effect on
{
July
}
January
1,
3121
2014;
3122
(b) an agreement that is binding on an entity on
{
July
}
January
1, 2014;
3123
(c) the organic rules of an entity in effect on
{
July
}
January
1, 2014; or
3124
(d) an agreement that is binding on any of the governors or interest holders of an entity
3125
on
{
July
}
January
1, 2014.
4. Page
110, Lines 3388 through 3391
:
3388
(3) If a protected agreement contains a provision that applies to a merger of a domestic
3389
partnership but does not refer to an interest exchange, the provision applies to an interest
3390
exchange in which the domestic partnership is the acquired entity as if the interest exchange
3391
were a merger until the provision is amended after
{
July
}
January
1, 2014.
5. Page
114, Lines 3523 through 3524
:
3523
partnership but does not refer to a conversion, the provision applies to a conversion of the
3524
entity as if the conversion were a merger until the provision is amended after
{
July
}
January
1,
2014.
6. Page
119, Lines 3682 through 3683
:
3682
domestication of the limited liability partnership as if the domestication were a merger until the
3683
provision is amended after
{
July
}
January
1, 2014.
7. Page
144, Lines 4439 through 4443
:
4439
(1) Before January 1, 2016, this chapter governs only:
4440
(a) a partnership formed on or after
{
July
}
January
1, 2014; and
4441
(b) except as otherwise provided in Subsection (3), a partnership formed before
{
July
}
January
1,
4442
2014, which elects, in the manner provided in its partnership agreement or by law for amending
4443
the partnership agreement, to be subject to this chapter.
8. Page
144, Line 4460 through Page 145, Line 4462
:
4460
Until this chapter is repealed January 1, 2016, this chapter applies only to a limited
4461
partnership formed on or before
{
June 30, 2014
}
December 31, 2013
, that has not elected to be
governed by Chapter
4462
2e, Utah Uniform Limited Partnership Act, as provided in Section
48-2e-1205
.
9. Page
145, Lines 4465 through 4467
:
4465
Until this chapter is repealed January 1, 2016, this chapter applies only to a limited
4466
liability company formed on or before
{
June 30, 2014
}
December 31, 2013
, that has not elected to
be governed by
4467
Chapter 3a, Utah Revised Uniform Limited Liability Company Act, as provided in Section
10. Page
216, Lines 6682 through 6689
:
6682
(31) "Protected agreement" means:
6683
(a) a record evidencing indebtedness and any related agreement in effect on
{
July
}
January
1,
6684
2014;
6685
(b) an agreement that is binding on an entity on
{
July
}
January
1, 2014;
6686
(c) the organic rules of an entity in effect on
{
July
}
January
1, 2014; or
6687
(d) an agreement that is binding on any of the governors or interest holders of an entity
6688
on
{
July
}
January
1, 2014.
6689
(32) "Public organic record" means the record, the filing of which by the division is
11. Page
225, Lines 6957 through 6960
:
6957
interest exchange in which the domestic limited partnership is the acquired entity as if the
6958
interest exchange were a merger until the provision is amended after
{
July
}
January
1, 2014.
6959
Section 255.
Section
48-2e-1132
is enacted to read:
6960
48-2e-1132. Plan of interest exchange.
12. Page
230, Lines 7099 through 7102
:
7099
limited partnership but does not refer to a conversion, the provision applies to a conversion of
7100
the entity as if the conversion were a merger until the provision is amended after
{
July
}
January
1,
2014.
7101
Section 261.
Section
48-2e-1142
is enacted to read:
7102
48-2e-1142. Plan of conversion.
13. Page
235, Lines 7257 through 7259
:
7257
domestication of the limited partnership as if the domestication were a merger until the
7258
provision is amended after
{
July
}
January
1, 2014.
7259
Section 267.
Section
48-2e-1152
is enacted to read:
14. Page
240, Line 7429 through Page 241, Line 7451
:
7429
(1) Before January 1, 2016, this chapter governs only:
7430
(a) a limited partnership formed on or after
{
July
}
January
1, 2014; and
7431
(b) except as otherwise provided in Subsections (3) and (4), a limited partnership
7432
formed before
{
July
}
January
1, 2014, which elects, in the manner provided in its partnership
agreement
7433
or by law for amending the partnership agreement, to be subject to this chapter.
7434
(2) Except as otherwise provided in Subsection (3), on and after January 1, 2016, this
7435
chapter governs all limited partnerships.
7436
(3) With respect to a limited partnership formed before
{
July
}
January
1, 2014, the following
7437
rules apply except as the partners otherwise elect in the manner provided in the partnership
7438
agreement or by law for amending the partnership agreement:
7439
(a) Subsection
48-2e-104
(3) does not apply and the limited partnership has whatever
7440
duration it had under the law applicable immediately before
{
July
}
January
1, 2014.
7441
(b) Sections
48-2e-601
and
48-2e-602
do not apply and a limited partner has the same
7442
right and power to dissociate from the limited partnership, with the same consequences, as
7443
existed immediately before
{
July
}
January
1, 2014.
7444
(c) Subsection
48-2e-603
(4) does not apply and the partners have the same right and
7445
power to expel a general partner as existed immediately before
{
July
}
January
1, 2014.
7446
(d) Subsection
48-2e-603
(5) does not apply and a court has the same power to expel a
7447
general partner as the court had immediately before
{
July
}
January
1, 2014.
7448
(e) Subsection
48-2e-801
(1)(c) does not apply and the connection between a person's
7449
dissociation as a general partner and the dissolution of the limited partnership is the same as
7450
existed immediately before
{
July
}
January
1, 2014.
7451
(4) With respect to a limited partnership that elects pursuant to Subsection (1)(b) to be
15. Page
308, Lines 9514 through 9521
:
9514
(30) "Protected agreement" means:
9515
(a) a record evidencing indebtedness and any related agreement in effect on
{
July
}
January
1,
9516
2014;
9517
(b) an agreement that is binding on an entity on
{
July
}
January
1, 2014;
9518
(c) the organic rules of an entity in effect on
{
July
}
January
1, 2014; or
9519
(d) an agreement that is binding on any of the governors or interest holders of an entity
9520
on
{
July
}
January
1, 2014.
9521
(31) "Public organic record" means the record the filing of which by the division is
16. Page
316, Lines 9789 through 9791
:
9789
interest exchange in which the domestic limited liability company is the acquired entity as if
9790
the interest exchange were a merger until the provision is amended after
{
July
}
January
1, 2014.
9791
Section 370.
Section
48-3a-1032
is enacted to read:
17. Page
321, Lines 9932 through 9935
:
9932
limited liability company but does not refer to a conversion, the provision applies to a
9933
conversion of the entity as if the conversion were a merger until the provision is amended after
9934
{
July
}
January
1, 2014.
9935
Section 376.
Section
48-3a-1042
is enacted to read:
18. Page
326, Lines 10091 through 10094
:
10091
limited liability company but does not refer to a domestication, the provision applies to a
10092
domestication of the limited liability company as if the domestication were a merger until the
10093
provision is amended after
{
July
}
January
1, 2014.
10094
Section 382.
Section
48-3a-1052
is enacted to read:
19. Page
350, Lines 10835 through 10839
:
10835
(1) Before January 1, 2016, this chapter governs only:
10836
(a) a limited liability company formed on or after
{
July
}
January
1, 2014; and
10837
(b) except as otherwise provided in Subsection (3), a limited liability company formed
10838
before
{
July
}
January
1, 2014, which elects, in the manner provided in its operating agreement or by
law
10839
for amending the operating agreement, to be subject to this chapter.
20. Page
350, Lines 10842 through 10844
:
10842
(3) For the purposes of applying this chapter to a limited liability company formed
10843
before
{
July
}
January
1, 2014:
10844
(a) the limited liability company's articles of organization are deemed to be the limited
21. Page
371, Lines 11485 through 11487
:
11485
(1) The amended sections in this bill take effect on July 1, 2013.
11486
(2) The sections enacted in this bill take effect on
{
July
}
January
1, 2014.
11487
(3) Section 422, Repealer, in this bill of the uncodified repealer Laws of Utah 2011,