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H.B. 99 Enrolled

             1     

BUSINESS REGISTRATION - OPTIONAL

             2     
INCLUSION OF OWNERSHIP DATA

             3     
2008 GENERAL SESSION

             4     
STATE OF UTAH

             5     
Chief Sponsor: Mark A. Wheatley

             6     
Senate Sponsor: Ross I. Romero

             7     
             8      LONG TITLE
             9      General Description:
             10          This bill requires a certificate of assumed and true name form created by the Division of
             11      Corporations and Commercial Code to allow a person to provide information about the
             12      gender and race of the entity's owner.
             13      Highlighted Provisions:
             14          This bill:
             15          .    requires the division to include on a form created by the division a way to indicate
             16      the gender and race of one or more owners of the entity for which the form is filed;
             17      and
             18          .    provides that information concerning gender or race is not required to be provided.
             19      Monies Appropriated in this Bill:
             20          None
             21      Other Special Clauses:
             22          None
             23      Utah Code Sections Affected:
             24      AMENDS:
             25          42-2-5, as last amended by Laws of Utah 1999, Chapter 267
             26     
             27      Be it enacted by the Legislature of the state of Utah:
             28          Section 1. Section 42-2-5 is amended to read:
             29           42-2-5. Certificate of assumed and of true name -- Contents -- Execution -- Filing


             30      -- Notice.
             31          (1) Every person who carries on, conducts, or transacts business in this state under an
             32      assumed name, whether that business is carried on, conducted, or transacted as an individual,
             33      association, partnership, corporation, or otherwise, shall file with the Division of Corporations
             34      and Commercial Code a certificate setting forth:
             35          (a) the name under which the business is, or is to be carried on, conducted, or
             36      transacted, and the full true name, or names, of the person owning, and the person carrying on,
             37      conducting, or transacting the business; and
             38          (b) the location of the principal place of business, and the street address of the person.
             39          (2) The certificate shall be executed by the person owning, and the person carrying on,
             40      conducting, or transacting the business, and shall be filed not later than 30 days after the time of
             41      commencing to carry on, conduct, or transact the business.
             42          (3) "Filed" means the Division of Corporations and Commercial Code has received and
             43      approved, as to form, a document submitted under the provisions of this chapter, and has
             44      marked on the face of the document a stamp or seal indicating the time of day and date of
             45      approval, the name of the division, the division director's signature and division seal, or
             46      facsimiles of the signature or seal.
             47          (4) Every certificate filed with the Division of Corporations and Commercial Code
             48      under this chapter shall include the following notice in a conspicuous place on the face thereof:
             49          NOTICE - THE FILING OF THIS APPLICATION AND ITS APPROVAL BY THE
             50      DIVISION OF CORPORATIONS AND COMMERCIAL CODE DOES NOT AUTHORIZE
             51      THE USE IN THE STATE OF UTAH OF AN ASSUMED NAME IN VIOLATION OF THE
             52      RIGHTS OF ANOTHER UNDER FEDERAL, STATE, OR COMMON LAW (SEE UTAH
             53      CODE ANN. SECTIONS 42-2-5 ET SEQ.).
             54          (5) (a) A certificate filed under this section shall include a portion that allows the person
             55      filing the form to voluntarily disclose the gender and race of one or more owners of the entity
             56      for which the filing is made.
             57          (b) Race shall be indicated under Subsection (5)(a) by selecting from the categories of


             58      race listed in 15 U.S.C. Sec. 631(f).
             59          (c) A person is not required to provide information under Subsection (5)(a) concerning
             60      the gender or race of one or more owners of the entity for which the filing is made.
             61          (d) (i) The Division of Corporations and Commercial Code shall compile information
             62      concerning the gender or race included on certificates filed with the Division of Corporations
             63      and Commercial Code.
             64          (ii) Information compiled by the Division of Corporations and Commercial Code under
             65      Subsection (5)(d)(i) may be compiled in a manner determined by the Division of Corporations
             66      and Commercial Code by rules made pursuant to Title 63, Chapter 46a, Utah Administrative
             67      Rulemaking Act.


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