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H.B. 319

             1     

DIVISION OF CORPORATIONS AND COMMERCIAL CODE

             2     
REPORTING REQUIREMENTS

             3     
2013 GENERAL SESSION

             4     
STATE OF UTAH

             5     
Chief Sponsor: Daniel McCay

             6     
Senate Sponsor: ____________

             7     
             8      LONG TITLE
             9      General Description:
             10          This bill modifies provisions related to filings with the Division of Corporations and
             11      Commercial Code.
             12      Highlighted Provisions:
             13          This bill:
             14          .    modifies references to "annual reports" to "periodic reports";
             15          .    requires the filing of certain periodic reports either annually or every five years, at
             16      the option of the entity, for entities filing with the Division of Corporations and
             17      Commercial Code; and
             18          .    makes technical and conforming amendments.
             19      Money Appropriated in this Bill:
             20          None
             21      Other Special Clauses:
             22          This bill takes effect on July 1, 2013.
             23          This bill coordinates with S.B. 21, Unincorporated Business Entities, to provide
             24      substantive amendments.
             25      Utah Code Sections Affected:
             26      AMENDS:
             27          3-1-25, as last amended by Laws of Utah 2000, Chapter 300


             28          3-1-42, as enacted by Laws of Utah 1994, Chapter 204
             29          16-6a-102, as last amended by Laws of Utah 2009, Chapter 386
             30          16-6a-113, as enacted by Laws of Utah 2000, Chapter 300
             31          16-6a-1410, as last amended by Laws of Utah 2008, Chapter 364
             32          16-6a-1515, as last amended by Laws of Utah 2008, Chapter 364
             33          16-6a-1601, as enacted by Laws of Utah 2000, Chapter 300
             34          16-6a-1607, as last amended by Laws of Utah 2008, Chapter 364
             35          16-6a-1608, as enacted by Laws of Utah 2000, Chapter 300
             36          16-6a-1701, as enacted by Laws of Utah 2000, Chapter 300
             37          16-10a-102, as last amended by Laws of Utah 2008, Chapter 249
             38          16-10a-128, as enacted by Laws of Utah 1992, Chapter 277
             39          16-10a-1420, as last amended by Laws of Utah 2008, Chapter 364
             40          16-10a-1530, as last amended by Laws of Utah 2008, Chapter 364
             41          16-10a-1601, as enacted by Laws of Utah 1992, Chapter 277
             42          16-10a-1607, as last amended by Laws of Utah 2010, Chapter 378
             43          16-10a-1608, as enacted by Laws of Utah 1992, Chapter 277
             44          16-11-14, as last amended by Laws of Utah 2000, Chapter 261
             45          16-16-207, as last amended by Laws of Utah 2010, Chapter 378
             46          16-16-1211, as enacted by Laws of Utah 2008, Chapter 363
             47          16-16-1406, as last amended by Laws of Utah 2010, Chapter 378
             48          16-17-301, as last amended by Laws of Utah 2010, Chapter 378
             49          48-1b-1003 (Effective 07/01/13), as enacted by Laws of Utah 2011, Chapter 353
             50          48-2a-203.5 (Repealed 07/01/13), as repealed by Laws of Utah 2011, Chapter 353
             51          48-2a-210 (Repealed 07/01/13), as repealed by Laws of Utah 2011, Chapter 353
             52          48-2c-121 (Repealed 07/01/13), as repealed by Laws of Utah 2011, Chapter 353
             53          48-2c-122 (Repealed 07/01/13), as repealed by Laws of Utah 2011, Chapter 353
             54          48-2c-203 (Repealed 07/01/13), as repealed by Laws of Utah 2011, Chapter 353
             55          48-2c-213 (Repealed 07/01/13), as repealed by Laws of Utah 2011, Chapter 353
             56          48-2c-309 (Repealed 07/01/13), as repealed by Laws of Utah 2011, Chapter 353
             57          48-2c-804 (Repealed 07/01/13), as repealed by Laws of Utah 2011, Chapter 353
             58          48-2c-1206 (Repealed 07/01/13), as repealed by Laws of Utah 2011, Chapter 353


             59          48-2c-1207 (Repealed 07/01/13), as repealed by Laws of Utah 2011, Chapter 353
             60          48-2c-1612 (Repealed 07/01/13), as repealed by Laws of Utah 2011, Chapter 353
             61          48-2c-1902 (Repealed 07/01/13), as repealed by Laws of Utah 2011, Chapter 353
             62          48-2d-111 (Effective 07/01/13), as enacted by Laws of Utah 2011, Chapter 353
             63          48-2d-209 (Effective 07/01/13), as enacted by Laws of Utah 2011, Chapter 353
             64          48-2d-210 (Effective 07/01/13), as enacted by Laws of Utah 2011, Chapter 353
             65          48-2d-809 (Effective 07/01/13), as enacted by Laws of Utah 2011, Chapter 353
             66          48-2d-906 (Effective 07/01/13), as enacted by Laws of Utah 2011, Chapter 353
             67          48-3-208 (Effective 07/01/13), as enacted by Laws of Utah 2011, Chapter 353
             68          48-3-209 (Effective 07/01/13), as enacted by Laws of Utah 2011, Chapter 353
             69          48-3-706 (Effective 07/01/13), as enacted by Laws of Utah 2011, Chapter 353
             70          48-3-806 (Effective 07/01/13), as enacted by Laws of Utah 2011, Chapter 353
             71      Utah Code Sections Affected by Coordination Clause:
             72          48-1d-1102, Utah Code Annotated 1953
             73          48-1d-1109, Utah Code Annotated 1953
             74          48-2e-115, Utah Code Annotated 1953
             75          48-2e-211, Utah Code Annotated 1953
             76          48-2e-212, Utah Code Annotated 1953
             77          48-2e-810, Utah Code Annotated 1953
             78          48-3a-211, Utah Code Annotated 1953
             79          48-3a-212, Utah Code Annotated 1953
             80          48-3a-708, Utah Code Annotated 1953
             81     
             82      Be it enacted by the Legislature of the state of Utah:
             83          Section 1. Section 3-1-25 is amended to read:
             84           3-1-25. Filing of periodic reports.
             85          Domestic associations and foreign associations admitted to do business in this state
             86      shall file [an annual] a periodic report in accordance with Section 16-6a-1607 .
             87          Section 2. Section 3-1-42 is amended to read:
             88           3-1-42. Association's records.
             89          (1) An association shall keep as permanent records:


             90          (a) minutes of meetings of its members and board of directors;
             91          (b) a record of each action taken by the consent of the members or board of directors
             92      without a meeting;
             93          (c) a record of each action taken on behalf of the association by a committee of the
             94      board of directors in place of the board of directors; and
             95          (d) a record of waivers of notices of meetings of members, board of directors, or
             96      committees of the board of directors.
             97          (2) An association shall maintain:
             98          (a) appropriate accounting records; and
             99          (b) a record of the names and addresses of its members and shareholders.
             100          (3) An association shall maintain its records in written form or in a form capable of
             101      being converted into written form within a reasonable time.
             102          (4) An association shall keep a copy of the following records at its principal office:
             103          (a) its most current articles of incorporation;
             104          (b) its most current bylaws;
             105          (c) the minutes of meetings of members, board of directors, and committees for the
             106      past three years;
             107          (d) a list of the names and business addresses of its current officers and directors;
             108          (e) its most recent [annual] periodic reports delivered to the division as provided under
             109      Section 3-1-25 ; and
             110          (f) financial statements prepared for periods ending during the last three years.
             111          Section 3. Section 16-6a-102 is amended to read:
             112           16-6a-102. Definitions.
             113          As used in this chapter:
             114          (1) (a) "Address" means a location where mail can be delivered by the United States
             115      Postal Service.
             116          (b) "Address" includes:
             117          (i) a post office box number;
             118          (ii) a rural free delivery route number; and
             119          (iii) a street name and number.
             120          (2) "Affiliate" means a person that directly or indirectly through one or more


             121      intermediaries controls, or is controlled by, or is under common control with, the person
             122      specified.
             123          (3) "Articles of incorporation" include:
             124          (a) amended articles of incorporation;
             125          (b) restated articles of incorporation;
             126          (c) articles of merger; and
             127          (d) a document of a similar import to the documents described in Subsections (3)(a)
             128      through (c).
             129          (4) "Assumed corporate name" means a name assumed for use in this state:
             130          (a) by a:
             131          (i) foreign corporation pursuant to Section 16-10a-1506 ; or
             132          (ii) a foreign nonprofit corporation pursuant to Section 16-6a-1506 ; and
             133          (b) because the corporate name of the foreign corporation described in Subsection
             134      (4)(a) is not available for use in this state.
             135          (5) (a) Except as provided in Subsection (5)(b), "board of directors" means the body
             136      authorized to manage the affairs of a domestic or foreign nonprofit corporation.
             137          (b) Notwithstanding Subsection (5)(a), a person may not be considered a member of
             138      the board of directors because of a power delegated to that person pursuant to Subsection
             139      16-6a-801 (2).
             140          (6) (a) "Bylaws" means the one or more codes of rules, other than the articles of
             141      incorporation, adopted pursuant to this chapter for the regulation or management of the affairs
             142      of a domestic or foreign nonprofit corporation irrespective of the one or more names by which
             143      the codes of rules are designated.
             144          (b) "Bylaws" includes:
             145          (i) amended bylaws; and
             146          (ii) restated bylaws.
             147          (7) (a) "Cash" or "money" means:
             148          (i) legal tender;
             149          (ii) a negotiable instrument; or
             150          (iii) other cash equivalent readily convertible into legal tender.
             151          (b) "Cash" and "money" are used interchangeably in this chapter.


             152          (8) (a) "Class" means a group of memberships that has the same right with respect to
             153      voting, dissolution, redemption, transfer, or other characteristics.
             154          (b) For purposes of Subsection (8)(a), a right is considered the same if it is determined
             155      by a formula applied uniformly to a group of memberships.
             156          (9) (a) "Conspicuous" means so written that a reasonable person against whom the
             157      writing is to operate should have noticed the writing.
             158          (b) "Conspicuous" includes printing or typing in:
             159          (i) italics;
             160          (ii) boldface;
             161          (iii) contrasting color;
             162          (iv) capitals; or
             163          (v) underlining.
             164          (10) "Control" or a "controlling interest" means the direct or indirect possession of the
             165      power to direct or cause the direction of the management and policies of an entity by:
             166          (a) the ownership of voting shares;
             167          (b) contract; or
             168          (c) a means other than those specified in Subsection (10)(a) or (b).
             169          (11) Subject to Section 16-6a-207 , "cooperative nonprofit corporation" or
             170      "cooperative" means a nonprofit corporation organized or existing under this chapter.
             171          (12) "Corporate name" means:
             172          (a) the name of a domestic corporation as stated in the domestic corporation's articles
             173      of incorporation;
             174          (b) the name of a domestic nonprofit corporation as stated in the domestic nonprofit
             175      corporation's articles of incorporation;
             176          (c) the name of a foreign corporation as stated in the foreign corporation's:
             177          (i) articles of incorporation; or
             178          (ii) document of similar import to articles of incorporation; or
             179          (d) the name of a foreign nonprofit corporation as stated in the foreign nonprofit
             180      corporation's:
             181          (i) articles of incorporation; or
             182          (ii) document of similar import to articles of incorporation.


             183          (13) "Corporation" or "domestic corporation" means a corporation for profit that:
             184          (a) is not a foreign corporation; and
             185          (b) is incorporated under or subject to Chapter 10a, Utah Revised Business Corporation
             186      Act.
             187          (14) "Delegate" means a person elected or appointed to vote in a representative
             188      assembly:
             189          (a) for the election of a director; or
             190          (b) on matters other than the election of a director.
             191          (15) "Deliver" includes delivery by mail or another means of transmission authorized
             192      by Section 16-6a-103 , except that delivery to the division means actual receipt by the division.
             193          (16) "Director" means a member of the board of directors.
             194          (17) (a) "Distribution" means the payment of a dividend or any part of the income or
             195      profit of a nonprofit corporation to the nonprofit corporation's:
             196          (i) members;
             197          (ii) directors; or
             198          (iii) officers.
             199          (b) "Distribution" does not include a fair-value payment for:
             200          (i) a good sold; or
             201          (ii) a service received.
             202          (18) "Division" means the Division of Corporations and Commercial Code.
             203          (19) "Effective date," when referring to a document filed by the division, means the
             204      time and date determined in accordance with Section 16-6a-108 .
             205          (20) "Effective date of notice" means the date notice is effective as provided in Section
             206      16-6a-103 .
             207          (21) (a) "Employee" includes an officer of a nonprofit corporation.
             208          (b) (i) Except as provided in Subsection (21)(b)(ii), "employee" does not include a
             209      director of a nonprofit corporation.
             210          (ii) Notwithstanding Subsection (21)(b)(i), a director may accept one or more duties
             211      that make that director an employee of a nonprofit corporation.
             212          (22) "Executive director" means the executive director of the Department of
             213      Commerce.


             214          (23) "Entity" includes:
             215          (a) a domestic or foreign corporation;
             216          (b) a domestic or foreign nonprofit corporation;
             217          (c) a limited liability company;
             218          (d) a profit or nonprofit unincorporated association;
             219          (e) a business trust;
             220          (f) an estate;
             221          (g) a partnership;
             222          (h) a trust;
             223          (i) two or more persons having a joint or common economic interest;
             224          (j) a state;
             225          (k) the United States; or
             226          (l) a foreign government.
             227          (24) "Foreign corporation" means a corporation for profit incorporated under a law
             228      other than the laws of this state.
             229          (25) "Foreign nonprofit corporation" means an entity:
             230          (a) incorporated under a law other than the laws of this state; and
             231          (b) that would be a nonprofit corporation if formed under the laws of this state.
             232          (26) "Governmental entity" means:
             233          (a) (i) the executive branch of the state;
             234          (ii) the judicial branch of the state;
             235          (iii) the legislative branch of the state;
             236          (iv) an independent entity, as defined in Section 63E-1-102 ;
             237          (v) a political subdivision of the state;
             238          (vi) a state institution of higher education, as defined in Section 53B-3-102 ;
             239          (vii) an entity within the state system of public education; or
             240          (viii) the National Guard; or
             241          (b) any of the following that is established or controlled by a governmental entity listed
             242      in Subsection (26)(a) to carry out the public's business:
             243          (i) an office;
             244          (ii) a division;


             245          (iii) an agency;
             246          (iv) a board;
             247          (v) a bureau;
             248          (vi) a committee;
             249          (vii) a department;
             250          (viii) an advisory board;
             251          (ix) an administrative unit; or
             252          (x) a commission.
             253          (27) "Governmental subdivision" means:
             254          (a) a county;
             255          (b) a city;
             256          (c) a town; or
             257          (d) another type of governmental subdivision authorized by the laws of this state.
             258          (28) "Individual" means:
             259          (a) a natural person;
             260          (b) the estate of an incompetent individual; or
             261          (c) the estate of a deceased individual.
             262          (29) "Internal Revenue Code" means the federal "Internal Revenue Code of 1986," as
             263      amended from time to time, or to corresponding provisions of subsequent internal revenue laws
             264      of the United States of America.
             265          (30) (a) "Mail," "mailed," or "mailing" means deposit, deposited, or depositing in the
             266      United States mail, properly addressed, first-class postage prepaid.
             267          (b) "Mail," "mailed," or "mailing" includes registered or certified mail for which the
             268      proper fee is paid.
             269          (31) (a) "Member" means one or more persons identified or otherwise appointed as a
             270      member of a domestic or foreign nonprofit corporation as provided:
             271          (i) in the articles of incorporation;
             272          (ii) in the bylaws;
             273          (iii) by a resolution of the board of directors; or
             274          (iv) by a resolution of the members of the nonprofit corporation.
             275          (b) "Member" includes "voting member."


             276          (32) "Membership" refers to the rights and obligations of a member or members.
             277          (33) "Mutual benefit corporation" means a nonprofit corporation:
             278          (a) that issues shares of stock to its members evidencing a right to receive distribution
             279      of water or otherwise representing property rights; or
             280          (b) all of whose assets are contributed or acquired by or for the members of the
             281      nonprofit corporation or their predecessors in interest to serve the mutual purposes of the
             282      members.
             283          (34) "Nonprofit corporation" or "domestic nonprofit corporation" means an entity that:
             284          (a) is not a foreign nonprofit corporation; and
             285          (b) is incorporated under or subject to this chapter.
             286          (35) "Notice" is as provided in Section 16-6a-103 .
             287          (36) "Party related to a director" means:
             288          (a) the spouse of the director;
             289          (b) a child of the director;
             290          (c) a grandchild of the director;
             291          (d) a sibling of the director;
             292          (e) a parent of the director;
             293          (f) the spouse of an individual described in Subsections (36)(b) through (e);
             294          (g) an individual having the same home as the director;
             295          (h) a trust or estate of which the director or another individual specified in this
             296      Subsection (36) is a substantial beneficiary; or
             297          (i) any of the following of which the director is a fiduciary:
             298          (i) a trust;
             299          (ii) an estate;
             300          (iii) an incompetent;
             301          (iv) a conservatee; or
             302          (v) a minor.
             303          (37) "Person" means an:
             304          (a) individual; or
             305          (b) entity.
             306          (38) "Principal office" means:


             307          (a) the office, in or out of this state, designated by a domestic or foreign nonprofit
             308      corporation as its principal office in the most recent document on file with the division
             309      providing that information, including:
             310          (i) [an annual] a periodic report;
             311          (ii) an application for a certificate of authority; or
             312          (iii) a notice of change of principal office; or
             313          (b) if no principal office can be determined, a domestic or foreign nonprofit
             314      corporation's registered office.
             315          (39) "Proceeding" includes:
             316          (a) a civil suit;
             317          (b) arbitration;
             318          (c) mediation;
             319          (d) a criminal action;
             320          (e) an administrative action; or
             321          (f) an investigatory action.
             322          (40) "Receive," when used in reference to receipt of a writing or other document by a
             323      domestic or foreign nonprofit corporation, means the writing or other document is actually
             324      received:
             325          (a) by the domestic or foreign nonprofit corporation at:
             326          (i) its registered office in this state; or
             327          (ii) its principal office;
             328          (b) by the secretary of the domestic or foreign nonprofit corporation, wherever the
             329      secretary is found; or
             330          (c) by another person authorized by the bylaws or the board of directors to receive the
             331      writing or other document, wherever that person is found.
             332          (41) (a) "Record date" means the date established under Part 6, Members, or Part 7,
             333      Member Meetings and Voting, on which a nonprofit corporation determines the identity of the
             334      nonprofit corporation's members.
             335          (b) The determination described in Subsection (41)(a) shall be made as of the close of
             336      business on the record date unless another time for doing so is specified when the record date is
             337      fixed.


             338          (42) "Registered agent" means the registered agent of:
             339          (a) a domestic nonprofit corporation; or
             340          (b) a foreign nonprofit corporation.
             341          (43) "Registered office" means the office within this state designated by a domestic or
             342      foreign nonprofit corporation as its registered office in the most recent document on file with
             343      the division providing that information, including:
             344          (a) articles of incorporation;
             345          (b) an application for a certificate of authority; or
             346          (c) a notice of change of registered office.
             347          (44) "Secretary" means the corporate officer to whom the bylaws or the board of
             348      directors delegates responsibility under Subsection 16-6a-818 (3) for:
             349          (a) the preparation and maintenance of:
             350          (i) minutes of the meetings of:
             351          (A) the board of directors; or
             352          (B) the members; and
             353          (ii) the other records and information required to be kept by the nonprofit corporation
             354      pursuant to Section 16-6a-1601 ; and
             355          (b) authenticating records of the nonprofit corporation.
             356          (45) "Shareholder" means a person in whose name a share is registered in the records
             357      of a nonprofit corporation.
             358          (46) "Share" means a unit of interest in a nonprofit corporation.
             359          (47) "State," when referring to a part of the United States, includes:
             360          (a) a state;
             361          (b) a commonwealth;
             362          (c) the District of Columbia;
             363          (d) an agency or governmental and political subdivision of a state, commonwealth, or
             364      District of Columbia;
             365          (e) territory or insular possession of the United States; or
             366          (f) an agency or governmental and political subdivision of a territory or insular
             367      possession of the United States.
             368          (48) "Street address" means:


             369          (a) (i) street name and number;
             370          (ii) city or town; and
             371          (iii) United States post office zip code designation; or
             372          (b) if, by reason of rural location or otherwise, a street name, number, city, or town
             373      does not exist, an appropriate description other than that described in Subsection (48)(a) fixing
             374      as nearly as possible the actual physical location, but only if the information includes:
             375          (i) the rural free delivery route;
             376          (ii) the county; and
             377          (iii) the United States post office zip code designation.
             378          (49) "Tribe" means a tribe, band, nation, pueblo, or other organized group or
             379      community of Indians, including an Alaska Native village, that is legally recognized as eligible
             380      for and is consistent with a special program, service, or entitlement provided by the United
             381      States to Indians because of their status as Indians.
             382          (50) "Tribal nonprofit corporation" means a nonprofit corporation:
             383          (a) incorporated under the law of a tribe; and
             384          (b) that is at least 51% owned or controlled by the tribe.
             385          (51) "United States" includes a district, authority, office, bureau, commission,
             386      department, and another agency of the United States of America.
             387          (52) "Vote" includes authorization by:
             388          (a) written ballot; and
             389          (b) written consent.
             390          (53) (a) "Voting group" means all the members of one or more classes of members or
             391      directors that, under this chapter, the articles of incorporation, or the bylaws, are entitled to
             392      vote and be counted together collectively on a matter.
             393          (b) All members or directors entitled by this chapter, the articles of incorporation, or
             394      the bylaws to vote generally on a matter are for that purpose a single voting group.
             395          (54) (a) "Voting member" means a person entitled to vote for all matters required or
             396      permitted under this chapter to be submitted to a vote of the members, except as otherwise
             397      provided in the articles of incorporation or bylaws.
             398          (b) A person is not a voting member solely because of:
             399          (i) a right the person has as a delegate;


             400          (ii) a right the person has to designate a director; or
             401          (iii) a right the person has as a director.
             402          (c) Except as the bylaws may otherwise provide, "voting member" includes a
             403      "shareholder" if the nonprofit corporation has shareholders.
             404          Section 4. Section 16-6a-113 is amended to read:
             405           16-6a-113. Certificates issued by the division.
             406          (1) Any person may apply to the division for:
             407          (a) a certificate of existence for a domestic nonprofit corporation;
             408          (b) a certificate of authorization for a foreign nonprofit corporation; or
             409          (c) a certificate that sets forth any facts of record in the division.
             410          (2) A certificate of existence or certificate of authorization sets forth:
             411          (a) (i) the domestic nonprofit corporation's corporate name; or
             412          (ii) the foreign nonprofit corporation's corporate name registered in this state;
             413          (b) that:
             414          (i) (A) the domestic nonprofit corporation is incorporated under the law of this state;
             415      and
             416          (B) the date of its incorporation; or
             417          (ii) the foreign nonprofit corporation is authorized to conduct affairs in this state;
             418          (c) that all fees, taxes, and penalties owed to this state have been paid, if:
             419          (i) payment is reflected in the records of the division; and
             420          (ii) nonpayment affects the existence or authorization of the domestic or foreign
             421      nonprofit corporation;
             422          (d) that the domestic or foreign nonprofit corporation's most recent [annual] periodic
             423      report required by Section 16-6a-1607 has been filed by the division;
             424          (e) that articles of dissolution have not been filed by the division; and
             425          (f) other facts of record in the division that may be requested by the applicant.
             426          (3) Subject to any qualification stated in the certificate, a certificate issued by the
             427      division may be relied upon as conclusive evidence of the facts set forth in the certificate.
             428          Section 5. Section 16-6a-1410 is amended to read:
             429           16-6a-1410. Grounds for administrative dissolution.
             430          The division may commence a proceeding under Section 16-6a-1411 for administrative


             431      dissolution of a nonprofit corporation if:
             432          (1) the nonprofit corporation does not pay when they are due any taxes, fees, or
             433      penalties imposed by this chapter or other applicable laws of this state;
             434          (2) the nonprofit corporation does not deliver its [annual] periodic report to the
             435      division when it is due;
             436          (3) the nonprofit corporation is without a registered agent; or
             437          (4) the nonprofit corporation does not give notice to the division that:
             438          (a) its registered agent has been changed;
             439          (b) its registered agent has resigned; or
             440          (c) the nonprofit corporation's period of duration stated in its articles of incorporation
             441      expires.
             442          Section 6. Section 16-6a-1515 is amended to read:
             443           16-6a-1515. Grounds for revocation.
             444          The division may commence a proceeding under Section 16-6a-1516 to revoke the
             445      authority of a foreign nonprofit corporation to conduct affairs in this state if:
             446          (1) the foreign nonprofit corporation does not deliver its [annual] periodic report to the
             447      division when it is due;
             448          (2) the foreign nonprofit corporation does not pay when they are due any taxes, fees, or
             449      penalties imposed by this chapter or other applicable laws of this state;
             450          (3) the foreign nonprofit corporation is without a registered agent in this state;
             451          (4) the foreign nonprofit corporation does not inform the division by an appropriate
             452      filing, within 30 days of the change or resignation, that:
             453          (a) its registered agent has changed; or
             454          (b) its registered agent has resigned;
             455          (5) an incorporator, director, officer, or agent of the foreign nonprofit corporation signs
             456      a document knowing it is false in any material respect with intent that the document be
             457      delivered to the division for filing; or
             458          (6) the division receives a duly authenticated certificate from the division or other
             459      official having custody of corporate records in the state or country under whose law the foreign
             460      nonprofit corporation is incorporated stating that the foreign nonprofit corporation has
             461      dissolved or disappeared as the result of a merger.


             462          Section 7. Section 16-6a-1601 is amended to read:
             463           16-6a-1601. Corporate records.
             464          (1) A nonprofit corporation shall keep as permanent records:
             465          (a) minutes of all meetings of its members and board of directors;
             466          (b) a record of all actions taken by the members or board of directors without a
             467      meeting;
             468          (c) a record of all actions taken by a committee of the board of directors in place of the
             469      board of directors on behalf of the nonprofit corporation; and
             470          (d) a record of all waivers of notices of meetings of members and of the board of
             471      directors or any committee of the board of directors.
             472          (2) A nonprofit corporation shall maintain appropriate accounting records.
             473          (3) A nonprofit corporation or its agent shall maintain a record of its members in a
             474      form that permits preparation of a list of the name and address of all members:
             475          (a) in alphabetical order, by class; and
             476          (b) showing the number of votes each member is entitled to vote.
             477          (4) A nonprofit corporation shall maintain its records in written form or in another
             478      form capable of conversion into written form within a reasonable time.
             479          (5) A nonprofit corporation shall keep a copy of each of the following records at its
             480      principal office:
             481          (a) its articles of incorporation;
             482          (b) its bylaws;
             483          (c) resolutions adopted by its board of directors relating to the characteristics,
             484      qualifications, rights, limitations, and obligations of members or any class or category of
             485      members;
             486          (d) the minutes of all members' meetings for a period of three years;
             487          (e) records of all action taken by members without a meeting, for a period of three
             488      years;
             489          (f) all written communications to members generally as members for a period of three
             490      years;
             491          (g) a list of the names and business or home addresses of its current directors and
             492      officers;


             493          (h) a copy of its most recent [annual] periodic report delivered to the division under
             494      Section 16-6a-1607 ; and
             495          (i) all financial statements prepared for periods ending during the last three years that a
             496      member could have requested under Section 16-6a-1606 .
             497          Section 8. Section 16-6a-1607 is amended to read:
             498           16-6a-1607. Periodic report for division.
             499          (1) [Each] A domestic nonprofit corporation, and [each] a foreign nonprofit
             500      corporation authorized to conduct affairs in this state, shall deliver to the division for filing [an
             501      annual] a periodic report on a form provided by the division that sets forth:
             502          (a) (i) the corporate name of the domestic or foreign nonprofit corporation; and
             503          (ii) any assumed corporate name of the foreign nonprofit corporation;
             504          (b) the jurisdiction under whose law it is incorporated;
             505          (c) the information required by Subsection 16-17-203 (1);
             506          (d) the street address of its principal office, wherever located; and
             507          (e) the names and addresses of its directors and principal officers.
             508          (2) The division shall deliver a copy of the prescribed form of [annual] a periodic
             509      report to each domestic nonprofit corporation and each foreign nonprofit corporation
             510      authorized to conduct affairs in this state.
             511          (3) Information in the [annual] periodic report shall be current as of the date the
             512      [annual] periodic report is executed on behalf of the nonprofit corporation.
             513          (4) (a) [The annual report of a] A domestic or foreign nonprofit corporation shall [be
             514      delivered annually] deliver the periodic report either annually or every five years to the division
             515      no later than 60 days past the date the report was mailed by the division.
             516          (b) The domestic or foreign nonprofit corporation makes the election of either filing a
             517      periodic report annually or every five years. The division shall impose the same filing fee for
             518      filing annually or every five years.
             519          [(b)] (c) Proof to the satisfaction of the division that the nonprofit corporation has
             520      mailed [an annual] a periodic report form is considered in compliance with this Subsection (4).
             521          (5) (a) If [an annual] a periodic report contains the information required by this section,
             522      the division shall file it.
             523          (b) If [an annual] a periodic report does not contain the information required by this


             524      section, the division shall promptly notify the reporting domestic or foreign nonprofit
             525      corporation in writing and return the [annual] periodic report to it for correction.
             526          (c) If [an annual] a periodic report that is rejected under Subsection (5)(b) was
             527      otherwise timely filed and is corrected to contain the information required by this section and
             528      delivered to the division within 30 days after the effective date of the notice of rejection, the
             529      [annual] periodic report is considered to be timely filed.
             530          (6) The fact that an individual's name is signed on [an annual] a periodic report form is
             531      prima facie evidence for division purposes that the individual is authorized to certify the report
             532      on behalf of the nonprofit corporation.
             533          (7) The [annual] periodic report form provided by the division may be designed to
             534      provide a simplified certification by the nonprofit corporation if no changes have been made in
             535      the required information from the last preceding report filed.
             536          (8) A domestic or foreign nonprofit corporation may, but may not be required to,
             537      deliver to the division for filing an amendment to its [annual] periodic report reflecting any
             538      change in the information contained in its [annual] periodic report as last amended.
             539          Section 9. Section 16-6a-1608 is amended to read:
             540           16-6a-1608. Statement of person named as director or officer.
             541          Any person named as a director or officer of a domestic or foreign nonprofit
             542      corporation in [an annual] a periodic report or other document on file with the division may, if
             543      that person does not hold the named position, deliver to the division for filing a statement
             544      setting forth:
             545          (1) that person's name;
             546          (2) the domestic or foreign nonprofit corporation's name;
             547          (3) information sufficient to identify the report or other document in which the person
             548      is named as a director or officer; and
             549          (4) (a) the date on which the person ceased to be a director or officer of the domestic or
             550      foreign nonprofit corporation; or
             551          (b) a statement that the person did not hold the position for which the person was
             552      named in the corporate report or other document.
             553          Section 10. Section 16-6a-1701 is amended to read:
             554           16-6a-1701. Application to existing domestic nonprofit corporations -- Reports of


             555      domestic and foreign nonprofit corporation.
             556          (1) Except as otherwise provided in Section 16-6a-1704 , this chapter applies to
             557      domestic nonprofit corporations as follows:
             558          (a) domestic nonprofit corporations in existence on April 30, 2001, that were
             559      incorporated under any general statute of this state providing for incorporation of nonprofit
             560      corporations, including all nonprofit corporations organized under any former provisions of
             561      Title 16, Chapter 6, Utah Nonprofit Corporation and Co-operative Association Act;
             562          (b) mutual irrigation, canal, ditch, reservoir, and water companies and water users'
             563      associations organized and existing under the laws of this state on April 30, 2001;
             564          (c) corporations organized under the provisions of Title 16, Chapter 7, Corporations
             565      Sole, for purposes of applying all provisions relating to merger or consolidation; and
             566          (d) to actions taken by the directors, officers, and members of the entities described in
             567      Subsections (1)(a), (b), and (c) after April 30, 2001.
             568          (2) Domestic nonprofit corporations to which this chapter applies, that are organized
             569      and existing under the laws of this state on April 30, 2001:
             570          (a) shall continue in existence with all the rights and privileges applicable to nonprofit
             571      corporations organized under this chapter; and
             572          (b) from April 30, 2001 shall have all the rights and privileges and shall be subject to
             573      all the remedies, restrictions, liabilities, and duties prescribed in this chapter except as
             574      otherwise specifically provided in this chapter.
             575          (3) Every existing domestic nonprofit corporation and foreign nonprofit corporation
             576      qualified to conduct affairs in this state on April 30, 2001 shall file [an annual] a periodic
             577      report with the division setting forth the information prescribed by Section 16-6a-1607 . The
             578      [annual] periodic report shall be filed at such time as would have been required had this chapter
             579      not taken effect and shall be filed [annually] thereafter as required in Section 16-6a-1607 .
             580          Section 11. Section 16-10a-102 is amended to read:
             581           16-10a-102. Definitions.
             582          As used in this chapter:
             583          (1) (a) "Address" means a location where mail can be delivered by the United States
             584      Postal Service.
             585          (b) "Address" includes:


             586          (i) a post office box number;
             587          (ii) a rural free delivery route number; and
             588          (iii) a street name and number.
             589          (2) "Affiliate" means a person that directly or indirectly through one or more
             590      intermediaries controls, or is controlled by, or is under common control with, the person
             591      specified.
             592          (3) "Assumed corporate name" means a name assumed for use in this state by a foreign
             593      corporation pursuant to Section 16-10a-1506 because its corporate name is not available for
             594      use in this state.
             595          (4) "Articles of incorporation" include:
             596          (a) amended and restated articles of incorporation;
             597          (b) articles of merger; and
             598          (c) a document of a similar import to those described in Subsections (4)(a) and (b).
             599          (5) "Authorized shares" means the shares of all classes a domestic or foreign
             600      corporation is authorized to issue.
             601          (6) "Bylaws" includes amended bylaws and restated bylaws.
             602          (7) "Cash" and "money" are used interchangeably in this chapter and mean:
             603          (a) legal tender;
             604          (b) a negotiable instrument; and
             605          (c) a cash equivalent readily convertible into legal tender.
             606          (8) "Conspicuous" means so written that a reasonable person against whom the writing
             607      is to operate should have noticed it, including printing or typing in:
             608          (a) italics;
             609          (b) boldface;
             610          (c) contrasting color;
             611          (d) capitals; or
             612          (e) underlining.
             613          (9) "Control" or a "controlling interest" means the direct or indirect possession of the
             614      power to direct or cause the direction of the management and policies of an entity, whether
             615      through the ownership of voting shares, by contract, or otherwise.
             616          (10) "Corporate name" means:


             617          (a) the name of a domestic corporation or a domestic nonprofit corporation as stated in
             618      its articles of incorporation; or
             619          (b) the name of a foreign corporation or a foreign nonprofit corporation as stated in its
             620      articles of incorporation or document of similar import.
             621          (11) "Corporation" or "domestic corporation" means a corporation for profit that:
             622          (a) is not a foreign corporation; and
             623          (b) is incorporated under or subject to this chapter.
             624          (12) "Deliver" includes delivery by mail or another means of transmission authorized
             625      by Section 16-10a-103 , except that delivery to the division means actual receipt by the division.
             626          (13) (a) "Distribution" means the following by a corporation to or for the benefit of its
             627      shareholders in respect of any of the corporation's shares:
             628          (i) a direct or indirect transfer of money or other property, other than a corporation's
             629      own shares; or
             630          (ii) incurrence of indebtedness by the corporation.
             631          (b) A distribution may be in the form of:
             632          (i) a declaration or payment of a dividend;
             633          (ii) a purchase, redemption, or other acquisition of shares;
             634          (iii) distribution of indebtedness; or
             635          (iv) another form.
             636          (14) "Division" means the Division of Corporations and Commercial Code.
             637          (15) "Effective date," when referring to a document filed by the division, means the
             638      time and date determined in accordance with Section 16-10a-123 .
             639          (16) "Effective date of notice" means the date notice is effective as provided in Section
             640      16-10a-103 .
             641          (17) "Electronic transmission" or "electronically transmitted" means a process of
             642      communication not directly involving the physical transfer of paper that is suitable for the
             643      receipt, retention, retrieval, and reproduction of information by the recipient, whether by
             644      e-mail, facsimile, or otherwise.
             645          (18) "Employee" includes an officer but not a director, unless the director accepts a
             646      duty that makes that director also an employee.
             647          (19) "Entity" includes:


             648          (a) a domestic and foreign corporation;
             649          (b) a nonprofit corporation;
             650          (c) a limited liability company;
             651          (d) a profit or nonprofit unincorporated association;
             652          (e) a business trust;
             653          (f) an estate;
             654          (g) a partnership;
             655          (h) a trust;
             656          (i) two or more persons having a joint or common economic interest;
             657          (j) a state;
             658          (k) the United States; and
             659          (l) a foreign government.
             660          (20) "Foreign corporation" means a corporation for profit incorporated under a law
             661      other than the law of this state.
             662          (21) "Governmental subdivision" means:
             663          (a) county;
             664          (b) municipality; or
             665          (c) another type of governmental subdivision authorized by the laws of this state.
             666          (22) "Individual" means:
             667          (a) a natural person;
             668          (b) the estate of an incompetent individual; or
             669          (c) the estate of a deceased individual.
             670          (23) "Mail," "mailed," or "mailing" means deposit, deposited, or depositing in the
             671      United States mail, properly addressed, first class postage prepaid, and includes registered or
             672      certified mail for which the proper fee is paid.
             673          (24) "Notice" is as provided in Section 16-10a-103 .
             674          (25) "Principal office" means the office, in or out of this state, designated by a
             675      domestic or foreign corporation as its principal office in the most recent document on file with
             676      the division providing the information, including:
             677          (a) [an annual] a periodic report;
             678          (b) an application for a certificate of authority; or


             679          (c) a notice of change of principal office.
             680          (26) "Proceeding" includes:
             681          (a) a civil suit;
             682          (b) arbitration or mediation; and
             683          (c) a criminal, administrative, or investigatory action.
             684          (27) "Qualified shares" means, with respect to a director's conflicting interest
             685      transaction pursuant to Section 16-10a-853 , one or more shares entitled to vote on the
             686      transaction, except a share:
             687          (a) that, to the knowledge, before the vote, of the secretary, other officer, or agent of
             688      the corporation authorized to tabulate votes, is beneficially owned; or
             689          (b) the voting of which is controlled, by:
             690          (i) a director who has a conflicting interest respecting the transaction;
             691          (ii) a related person of that director; or
             692          (iii) a person referred to in Subsections (27)(b)(i) and (ii).
             693          (28) "Receive," when used in reference to receipt of a writing or other document by a
             694      domestic or foreign corporation, means the writing or other document is actually received by:
             695          (a) the corporation at its:
             696          (i) registered office in this state; or
             697          (ii) principal office;
             698          (b) the secretary of the corporation, wherever the secretary is found; or
             699          (c) another person authorized by the bylaws or the board of directors to receive the
             700      writing or other document, wherever that person is found.
             701          (29) (a) "Record date" means the date established under Part 6, Shares and
             702      Distributions, or Part 7, Shareholders, on which a corporation determines the identity of its
             703      shareholders.
             704          (b) The determination under Subsection (29)(a) shall be made as of the close of
             705      business on the record date unless another time for doing so is specified when the record date is
             706      fixed.
             707          (30) "Registered office" means the office within this state designated by a domestic or
             708      foreign corporation as its registered office in the most recent document on file with the division
             709      providing that information, including:


             710          (a) articles of incorporation;
             711          (b) an application for a certificate of authority; or
             712          (c) a notice of change of registered office.
             713          (31) "Related person" of a director means:
             714          (a) the spouse of the director;
             715          (b) a child, grandchild, sibling, or parent of the director;
             716          (c) the spouse of a child, grandchild, sibling, or parent of the director;
             717          (d) an individual having the same home as the director;
             718          (e) a trust or estate of which the director or any other individual specified in this
             719      Subsection (31) is a substantial beneficiary; or
             720          (f) a trust, estate, incompetent, conservatee, or minor of which the director is a
             721      fiduciary.
             722          (32) "Secretary" means the corporate officer to whom the bylaws or the board of
             723      directors delegates responsibility under Subsection 16-10a-830 (3) for:
             724          (a) the preparation and maintenance of:
             725          (i) minutes of the meetings of the board of directors and of the shareholders; and
             726          (ii) the other records and information required to be kept by the corporation by Section
             727      16-10a-830 ; and
             728          (b) authenticating records of the corporation.
             729          (33) "Share" means the unit into which the proprietary interests in a corporation are
             730      divided.
             731          (34) (a) "Shareholder" means:
             732          (i) the person in whose name a share is registered in the records of a corporation; or
             733          (ii) the beneficial owner of a share to the extent recognized pursuant to Section
             734      16-10a-723 .
             735          (b) For purposes of this chapter:
             736          (i) the following, identified as a shareholder in a corporation's current record of
             737      shareholders, constitute one shareholder:
             738          (A) (I) three or fewer coowners; or
             739          (II) in the case of more than three coowners, each coowner in excess of the first three is
             740      counted as a separate shareholder;


             741          (B) a corporation, limited liability company, partnership, trust, estate, or other entity;
             742      and
             743          (C) the trustees, guardians, custodians, or other fiduciaries of a single trust, estate, or
             744      account;
             745          (ii) shareholdings registered in substantially similar names constitute one shareholder if
             746      it is reasonable to believe that the names represent the same person; and
             747          (iii) if the record of a shareholder is not maintained in accordance with accepted
             748      practice, an additional person who would be identified as an owner on that record if it had been
             749      maintained in accordance with accepted practice shall be included as a holder of record.
             750          (35) "Subscriber" means a person who subscribes for shares in a corporation, whether
             751      before or after incorporation.
             752          (36) "Tribe" means a tribe, band, nation, pueblo, or other organized group or
             753      community of Indians, including an Alaska Native village, that is legally recognized as eligible
             754      for and is consistent with a special program, service, or entitlement provided by the United
             755      States to Indians because of their status as Indians.
             756          (37) "Tribal corporation" means a corporation:
             757          (a) incorporated under the law of a tribe; and
             758          (b) that is at least 51% owned or controlled by the tribe.
             759          (38) (a) "Voting group" means all shares of one or more classes or series that under the
             760      articles of incorporation or this chapter are entitled to vote and be counted together collectively
             761      on a matter at a meeting of shareholders.
             762          (b) All shares entitled by the articles of incorporation or this chapter to vote generally
             763      on the matter are for that purpose a single voting group.
             764          Section 12. Section 16-10a-128 is amended to read:
             765           16-10a-128. Certificates issued by the division.
             766          (1) Anyone may apply to the division for a certificate of existence for a domestic
             767      corporation, a certificate of authorization for a foreign corporation, or a certificate that sets
             768      forth any facts of record in the office of the division.
             769          (2) A certificate of existence or authorization sets forth:
             770          (a) the domestic corporation's corporate name or the foreign corporation's corporate
             771      name registered in this state;


             772          (b) that:
             773          (i) the domestic corporation is duly incorporated under the law of this state and the date
             774      of its incorporation; or
             775          (ii) the foreign corporation is authorized to transact business in this state;
             776          (c) that all fees, taxes, and penalties owed to this state have been paid, if:
             777          (i) payment is reflected in the records of the division; and
             778          (ii) nonpayment affects the existence or authorization of the domestic or foreign
             779      corporation;
             780          (d) that its most recent [annual] periodic report required by Section 16-10a-1607 has
             781      been filed by the division;
             782          (e) that articles of dissolution have not been filed; and
             783          (f) other facts of record in the office of the division that may be requested by the
             784      applicant.
             785          (3) Subject to any qualification stated in the certificate, a certificate issued by the
             786      division may be relied upon as conclusive evidence of the facts set forth in the certificate.
             787          Section 13. Section 16-10a-1420 is amended to read:
             788           16-10a-1420. Grounds for administrative dissolution.
             789          The division may commence a proceeding under Section 16-10a-1421 for
             790      administrative dissolution of a corporation if:
             791          (1) the corporation does not pay when they are due any taxes, fees, or penalties
             792      imposed by this chapter or other applicable laws of this state;
             793          (2) the corporation does not deliver a corporate or [annual] periodic report to the
             794      division when it is due;
             795          (3) the corporation is without a registered agent in this state for 30 days or more;
             796          (4) the corporation does not give notice to the division within 30 days that its registered
             797      agent has been changed or that its registered agent has resigned; or
             798          (5) the corporation's period of duration stated in its articles of incorporation expires.
             799          Section 14. Section 16-10a-1530 is amended to read:
             800           16-10a-1530. Grounds for revocation.
             801          The division may commence a proceeding under Section 16-10a-1531 to revoke the
             802      authority of a foreign corporation to transact business in this state if:


             803          (1) the foreign corporation does not deliver its [annual] periodic report to the division
             804      when it is due;
             805          (2) the foreign corporation does not pay when they are due any taxes, fees, or penalties
             806      imposed by this chapter or other applicable laws of this state;
             807          (3) the foreign corporation is without a registered agent in this state for 30 days or
             808      more;
             809          (4) the foreign corporation does not inform the division by an appropriate filing within
             810      30 days of the change or resignation that its registered agent has changed or that its registered
             811      agent has resigned;
             812          (5) an incorporator, director, officer, or agent of the foreign corporation signs a
             813      document knowing it is false in any material respect with intent that the document be delivered
             814      to the division for filing; or
             815          (6) the division receives a duly authenticated certificate from the lieutenant governor or
             816      other official having custody of corporate records in the state or country under whose law the
             817      foreign corporation is incorporated stating that the corporation has dissolved or disappeared as
             818      the result of a merger.
             819          Section 15. Section 16-10a-1601 is amended to read:
             820           16-10a-1601. Corporate records.
             821          (1) A corporation shall keep as permanent records minutes of all meetings of its
             822      shareholders and board of directors, a record of all actions taken by the shareholders or board
             823      of directors without a meeting, and a record of all actions taken on behalf of the corporation by
             824      a committee of the board of directors in place of the board of directors, and a record of all
             825      waivers of notices of meetings of shareholders, meetings of the board of directors, or any
             826      meetings of committees of the board of directors.
             827          (2) A corporation shall maintain appropriate accounting records.
             828          (3) A corporation or its agent shall maintain a record of the names and addresses of its
             829      shareholders, in a form that permits preparation of a list of shareholders:
             830          (a) that is arranged by voting group and within each voting group by class or series of
             831      shares;
             832          (b) that is in alphabetical order within each class or series; and
             833          (c) that shows the address of and the number of shares of each class and series held by


             834      each shareholder.
             835          (4) A corporation shall maintain its records in written form or in any form capable of
             836      conversion into written form within a reasonable time.
             837          (5) A corporation shall keep a copy of the following records at its principal office:
             838          (a) its articles of incorporation currently in effect;
             839          (b) its bylaws currently in effect;
             840          (c) the minutes of all shareholders' meetings, and records of all action taken by
             841      shareholders without a meeting, for the past three years;
             842          (d) all written communications within the past three years to shareholders as a group or
             843      to the holders of any class or series of shares as a group;
             844          (e) a list of the names and business addresses of its current officers and directors;
             845          (f) its most recent [annual] periodic report delivered to the division under Section
             846      16-10a-1607 ; and
             847          (g) all financial statements prepared for periods ending during the last three years that a
             848      shareholder could request under Section 16-10a-1605 .
             849          Section 16. Section 16-10a-1607 is amended to read:
             850           16-10a-1607. Periodic report for division.
             851          (1) [Each] A domestic corporation, and [each] a foreign corporation authorized to
             852      transact business in this state, shall deliver to the division for filing [an annual] a periodic
             853      report on a form provided by the division that sets forth:
             854          (a) the corporate name of the domestic or foreign corporation and any assumed
             855      corporate name of the foreign corporation;
             856          (b) the jurisdiction under whose law it is incorporated;
             857          (c) the information required by Subsection 16-17-203 (1);
             858          (d) the street address of its principal office, wherever located; and
             859          (e) the names of its principal officers.
             860          (2) The division shall deliver a copy of the prescribed form of [annual] a periodic
             861      report to each domestic corporation and each foreign corporation authorized to transact
             862      business in this state.
             863          (3) Information in the [annual] periodic report shall be current as of the date the
             864      [annual] periodic report is executed on behalf of the corporation.


             865          (4) (a) [The annual report of a] A domestic or foreign corporation shall [be delivered
             866      annually] deliver a periodic report annually or every five years to the division no later than the
             867      end of the second calendar month following the calendar month in which the periodic report
             868      form is mailed by the division. Proof to the satisfaction of the division that the corporation has
             869      mailed [an annual] a periodic report form is considered in compliance with this Subsection (4).
             870          (b) The domestic or foreign corporation makes the election of either filing a periodic
             871      report annually or every five years. The division shall impose the same filing fee for filing
             872      annually or every five years.
             873          (5) If [an annual] a periodic report contains the information required by this section,
             874      the division shall file it. If a report does not contain the information required by this section,
             875      the division shall promptly notify the reporting domestic or foreign corporation in writing and
             876      return the periodic report to it for correction. If the periodic report was otherwise timely filed
             877      and is corrected to contain the information required by this section and delivered to the division
             878      within 30 days after the effective date of the notice of rejection, the [annual] periodic report is
             879      considered to be timely filed.
             880          (6) The fact that an individual's name is signed on [an annual] a periodic report form is
             881      prima facie evidence for division purposes that the individual is authorized to certify the report
             882      on behalf of the corporation.
             883          (7) The [annual] periodic report form provided by the division may be designed to
             884      provide a simplified certification by the corporation if no changes have been made in the
             885      required information from the last preceding periodic report filed.
             886          (8) A domestic or foreign corporation may, but may not be required to, deliver to the
             887      division for filing an amendment to its [annual] periodic report reflecting any change in the
             888      information contained in its [annual] periodic report as last amended.
             889          Section 17. Section 16-10a-1608 is amended to read:
             890           16-10a-1608. Statement of person named as director or officer.
             891          [(1)] Any person named as a director or officer of a domestic or foreign corporation in
             892      [an annual] a periodic report or other document on file with the division may, if [he] the person
             893      does not hold the named position, deliver to the division for filing a statement setting forth:
             894          [(a) his] (1) the person's name;
             895          [(b)] (2) the domestic or foreign corporation's name;


             896          [(c)] (3) information sufficient to identify the report or other document in which [he]
             897      the person is named as a director or officer; and
             898          [(d)] (4) the date on which [he] the person ceased to be a director or officer of the
             899      domestic or foreign corporation, or a statement that [he] the person did not hold the position for
             900      which [he] the person was named in the corporate report or other document.
             901          Section 18. Section 16-11-14 is amended to read:
             902           16-11-14. Periodic report -- Filing -- Contents -- Filing fee.
             903          [During] (1) Either annually or every five years during the month of the anniversary
             904      date of incorporation, each professional corporation shall file with the division [an annual] a
             905      periodic report as specified by Section 16-10a-1607 [,]:
             906          (a) giving the names and residence addresses of all shareholders of the professional
             907      corporation as of its anniversary date of incorporation next preceding[,]; and
             908          (b) certifying that all of the shareholders are duly licensed to render the same specific
             909      professional services as those for which the corporation was organized or otherwise qualify to
             910      be shareholders pursuant to the applicable licensing act for the profession for which the
             911      corporation was organized.
             912          (2) A professional corporation makes the election of either filing a periodic report
             913      annually or every five years. The division shall impose the same filing fee for filing annually
             914      or every five years.
             915          Section 19. Section 16-16-207 is amended to read:
             916           16-16-207. Periodic report for division.
             917          (1) A limited cooperative association or foreign cooperative authorized to transact
             918      business in this state shall deliver to the division for filing [an annual] a periodic report that
             919      states:
             920          (a) the name of the association or foreign cooperative;
             921          (b) the street address and, if different, mailing address of the association's or foreign
             922      cooperative's designated office and the name of its agent for service of process at the
             923      designated office;
             924          (c) the street address and, if different, mailing address of the association's or foreign
             925      cooperative's principal office; and
             926          (d) in the case of a foreign cooperative, the state or other jurisdiction under whose law


             927      the foreign cooperative is formed and any alternative name adopted under Section 16-16-1405 .
             928          (2) Information in [an annual] a periodic report shall be current as of the date the report
             929      is delivered to the division.
             930          (3) (a) The first [annual] periodic report shall be delivered to the division between
             931      January 1 and April 1 of the year following the calendar year in which the limited cooperative
             932      association is formed or the foreign cooperative is authorized to transact business in this state.
             933      For subsequent years, [an annual] a periodic report shall be delivered to the division either
             934      annually or every five years during the month in which falls the anniversary of the limited
             935      cooperative association's organization or the foreign cooperative's authorization to transact
             936      business.
             937          (b) The limited cooperative association or foreign cooperative makes the election of
             938      either filing a periodic report annually or every five years. The division shall impose the same
             939      filing fee for filing annually or every five years.
             940          (4) If [an annual] a periodic report does not contain the information required by
             941      Subsection (1), the division shall promptly notify the reporting limited cooperative association
             942      or foreign cooperative and return the periodic report for correction. If the periodic report is
             943      corrected to contain the information required by Subsection (1) and delivered to the division
             944      not later than 30 days after the date of the notice from the division, it is timely delivered.
             945          (5) If a filed [annual] periodic report contains an address of the designated office, name
             946      of the agent for service of process, or address of the principal office which differs from the
             947      information shown in the records of the division immediately before the filing, the differing
             948      information in the [annual] periodic report is considered a statement of change.
             949          (6) If a limited cooperative association fails to deliver [an annual] a periodic report
             950      under this section, the division may proceed under Section 16-16-1211 to dissolve the
             951      association administratively.
             952          (7) If a foreign cooperative fails to deliver [an annual] a periodic report under this
             953      section, the division may revoke the certificate of authority of the cooperative.
             954          Section 20. Section 16-16-1211 is amended to read:
             955           16-16-1211. Administrative dissolution.
             956          (1) The division may dissolve a limited cooperative association administratively if the
             957      association does not:


             958          (a) pay, not later than 60 days after the due date, any fee, tax, or penalty due to the
             959      division under this chapter or other law; or
             960          (b) deliver not later than 60 days after the due date its [annual] periodic report to the
             961      division.
             962          (2) If the division determines that a ground exists for dissolving a limited cooperative
             963      association administratively, the division shall file a record of the determination and serve the
             964      association with a copy of the record.
             965          (3) If, not later than 60 days after service of a copy of the division's determination
             966      under Subsection (2), the association does not correct each ground for dissolution or
             967      demonstrate to the satisfaction of the division that each uncorrected ground determined by the
             968      division does not exist, the division shall dissolve the association administratively by preparing
             969      and filing a declaration of dissolution which states the grounds for dissolution. The division
             970      shall serve the association with a copy of the declaration.
             971          (4) A limited cooperative association that has been dissolved administratively
             972      continues its existence only for purposes of winding up its activities.
             973          (5) The administrative dissolution of a limited cooperative association does not
             974      terminate the authority of its agent for service of process.
             975          Section 21. Section 16-16-1406 is amended to read:
             976           16-16-1406. Revocation of certificate of authority.
             977          (1) A certificate of authority may be revoked by the division in the manner provided in
             978      Subsection (2) if the foreign cooperative does not:
             979          (a) pay, not later than 60 days after the due date, any fee, tax, or penalty due to the
             980      division under this chapter or any other law of this state;
             981          (b) deliver, not later than 60 days after the due date, its [annual] periodic report;
             982          (c) appoint and maintain an agent for service of process; or
             983          (d) deliver for filing a statement of change not later than 30 days after a change has
             984      occurred in the name of the agent or the address of the foreign cooperative's designated office.
             985          (2) To revoke a certificate of authority, the division shall file a notice of revocation and
             986      send a copy to the foreign cooperative's registered agent for service of process in this state or, if
             987      the foreign cooperative does not appoint and maintain an agent for service of process in this
             988      state, to the foreign cooperative's principal office. The notice shall state:


             989          (a) the revocation's effective date, which shall be at least 60 days after the date the
             990      division sends the copy; and
             991          (b) the foreign cooperative's noncompliance that is the reason for the revocation.
             992          (3) The authority of a foreign cooperative to transact business in this state ceases on the
             993      effective date of the notice of revocation unless before that date the foreign cooperative cures
             994      each failure to comply stated in the notice. If the foreign cooperative cures the failures, the
             995      division shall so indicate on the filed notice.
             996          Section 22. Section 16-17-301 is amended to read:
             997           16-17-301. Service of process on entities.
             998          (1) A registered agent is an agent of the represented entity authorized to receive service
             999      of any process, notice, or demand required or permitted by law to be served on the entity.
             1000          (2) If an entity that previously filed a registered agent filing with the division no longer
             1001      has a registered agent, or if its registered agent cannot with reasonable diligence be served, the
             1002      entity may be served by registered or certified mail, return receipt requested, addressed to the
             1003      governors of the entity by name at its principal office in accordance with any applicable
             1004      judicial rules and procedures. The names of the governors and the address of the principal
             1005      office may be as shown in the most recent [annual] periodic report filed with the division.
             1006      Service is perfected under this Subsection (2) at the earliest of:
             1007          (a) the date the entity receives the mail;
             1008          (b) the date shown on the return receipt, if signed on behalf of the entity; or
             1009          (c) five days after its deposit with the United States Postal Service, if correctly
             1010      addressed and with sufficient postage.
             1011          (3) If process, notice, or demand cannot be served on an entity pursuant to Subsection
             1012      (1) or (2), service of process may be made by handing a copy to the manager, clerk, or other
             1013      person in charge of any regular place of business or activity of the entity if the person served is
             1014      not a plaintiff in the action.
             1015          (4) Service of process, notice, or demand on a registered agent shall be in the form of a
             1016      written document, except that service may be made on a commercial registered agent in such
             1017      other forms of a record, and subject to such requirements as the agent has stated from time to
             1018      time in its listing under Section 16-17-204 that it will accept.
             1019          (5) Service of process, notice, or demand may be perfected by any other means


             1020      prescribed by law other than this chapter.
             1021          Section 23. Section 48-1b-1003 (Effective 07/01/13) is amended to read:
             1022           48-1b-1003 (Effective 07/01/13). Periodic report.
             1023          (1) A limited liability partnership, and a foreign limited liability partnership authorized
             1024      to transact business in this state, shall file [an annual] a periodic report either annually or every
             1025      five years with the division [which] that contains:
             1026          (a) the name of the limited liability partnership and the state or other jurisdiction under
             1027      whose laws the foreign limited liability partnership is formed;
             1028          (b) the street address of the partnership's chief executive office and, if different, the
             1029      street address of an office of the partnership in this state, if any; and
             1030          (c) if the partnership does not have an office in this state, the information required by
             1031      Subsection 16-17-203 (1).
             1032          (2) (a) Following the calendar year in which a partnership files a statement of
             1033      qualification or a foreign partnership becomes authorized to transact business in this state, the
             1034      partnership shall file [an annual] a periodic report:
             1035          [(a)] (i) during the month of its anniversary date of formation, in the case of a domestic
             1036      partnership; or
             1037          [(b)] (ii) during the month of the anniversary date of being granted authority to transact
             1038      business in this state, in the case of a foreign partnership authorized to transact business in this
             1039      state.
             1040          (b) The domestic limited liability partnership or foreign limited liability partnership
             1041      makes the election of either filing a periodic report annually or every five years. The division
             1042      shall impose the same filing fee for filing annually or every five years.
             1043          (3) (a) The division may revoke the statement of qualification of a partnership that fails
             1044      to:
             1045          (i) file [an annual] a periodic report when due; or
             1046          (ii) pay the required filing fee, established in accordance with Section 63J-1-504 .
             1047          (b) To take an action under this Subsection (3), the division shall provide the
             1048      partnership at least 60 days' written notice of intent to revoke the statement. The notice must
             1049      be mailed to the partnership at its chief executive office set forth in the last filed statement of
             1050      qualification or [annual] periodic report. The notice must specify the [annual] periodic report


             1051      that has not been filed, the fee that has not been paid, and the effective date of the revocation.
             1052      The revocation is not effective if the [annual] periodic report is filed and the fee is paid before
             1053      the effective date of the revocation.
             1054          (4) A revocation under Subsection (3) only affects a partnership's status as a limited
             1055      liability partnership and is not an event of dissolution of the partnership.
             1056          (5) A partnership whose statement of qualification has been revoked may apply to the
             1057      division for reinstatement within two years after the effective date of the revocation. The
             1058      application must state:
             1059          (a) the name of the partnership and the effective date of the revocation; and
             1060          (b) that the ground for revocation either did not exist or has been corrected.
             1061          (6) A reinstatement under Subsection (5) relates back to and takes effect as of the
             1062      effective date of the revocation, and the partnership's status as a limited liability partnership
             1063      continues as if the revocation had never occurred.
             1064          Section 24. Section 48-2a-203.5 (Repealed 07/01/13) is amended to read:
             1065           48-2a-203.5 (Repealed 07/01/13). Involuntary dissolution of certificate.
             1066          (1) A certificate of limited partnership may be canceled involuntarily by a decree of a
             1067      district court having competent jurisdiction upon petition by the director of the division, or by a
             1068      party in interest who shall have standing to bring such an action, when it is established that:
             1069          (a) the limited partnership procured the issuance of a stamped copy of its certificate of
             1070      limited partnership or the execution of the certificate of limited partnership through fraud, in
             1071      which case the certificate shall be canceled as of the date of its filing; or
             1072          (b) the limited partnership has continually exceeded or abused the authority conferred
             1073      upon it by law or by the partnership agreement.
             1074          (2) A domestic limited partnership or a foreign limited partnership registered in this
             1075      state is delinquent if:
             1076          (a) it does not file [an annual] a periodic report within the time prescribed by this
             1077      chapter; or
             1078          (b) it fails to maintain a registered agent in this state for 60 consecutive days.
             1079          (3) (a) The division shall mail a notice of delinquency of a delinquent limited
             1080      partnership to:
             1081          (i) the registered agent of the limited partnership; or


             1082          (ii) if there is no registered agent of record, at least one general partner of the limited
             1083      partnership.
             1084          (b) The notice of delinquency required under Subsection (3)(a) shall state:
             1085          (i) the nature of the delinquency; and
             1086          (ii) that the limited partnership shall be dissolved unless within 60 days of the mailing
             1087      of the notice of delinquency it corrects the delinquency.
             1088          (c) The division shall include with the notice of delinquency any forms necessary to
             1089      correct the delinquency.
             1090          (4) (a) If the limited partnership does not remove the delinquency within 60 days from
             1091      the date the division mails the notice of delinquency, the limited partnership's certificate or
             1092      registration shall be dissolved involuntarily by the director of the division effective on the date
             1093      specified in Subsection (4)(c).
             1094          (b) If a limited partnership's certificate or registration is dissolved under Subsection
             1095      (4)(a), the division shall mail a certificate of dissolution to:
             1096          (i) the registered agent of the limited partnership; or
             1097          (ii) if there is no registered agent of record, at least one partner of the limited
             1098      partnership.
             1099          (c) A limited partnership's date of dissolution is five days from the date the division
             1100      mailed the certificate of dissolution under Subsection (4)(b).
             1101          (d) A dissolved limited partnership may not be reinstated except as set forth in
             1102      Subsection (5).
             1103          (e) On the date of dissolution, any assumed names filed on behalf of the dissolved
             1104      limited partnership under Title 42, Chapter 2, Conducting Business Under an Assumed Name,
             1105      are canceled.
             1106          (f) Notwithstanding Subsection (4)(e), the name of a dissolved limited partnership and
             1107      any assumed names filed on its behalf are not available for two years from the date of
             1108      dissolution for use by any other person:
             1109          (i) transacting business in this state; or
             1110          (ii) doing business under an assumed name under Title 42, Chapter 2, Conducting
             1111      Business Under an Assumed Name.
             1112          (g) Notwithstanding Subsection (4)(e), if the limited partnership that is dissolved is


             1113      reinstated in accordance with this section, the registration of the name of the limited
             1114      partnership and any assumed names filed on its behalf are reinstated back to the date of
             1115      dissolution.
             1116          (5) Any limited partnership whose certificate or registration has been dissolved under
             1117      this section or Section 48-2a-203 may be reinstated within two years following the date of
             1118      dissolution upon:
             1119          (a) application; and
             1120          (b) payment of:
             1121          (i) all penalties; and
             1122          (ii) all reinstatement fees.
             1123          (6) A limited partner of a limited partnership is not liable as a general partner of the
             1124      limited partnership solely by reason of the limited partnership having had its limited
             1125      partnership certificate or registration dissolved.
             1126          (7) A limited partnership that has had its certificate or registration dissolved may not
             1127      maintain any action, suit, or proceeding in any court of this state until it has reinstated its
             1128      certificate or registration following dissolution.
             1129          (8) If the division denies a limited partnership's application for reinstatement following
             1130      a dissolution under this section, the division shall mail the limited partnership written notice:
             1131          (a) setting forth the reasons for denying the application; and
             1132          (b) stating that the limited partnership has the right to appeal the division's
             1133      determination to the executive director of the Department of Commerce in accordance with
             1134      Title 63G, Chapter 4, Administrative Procedures Act.
             1135          (9) A notice or certificate mailed under this section shall be:
             1136          (a) mailed first-class, postage prepaid; and
             1137          (b) addressed to the most current mailing address appearing on the records of the
             1138      division for:
             1139          (i) the registered agent of the limited partnership corporation, if the notice is required
             1140      to be mailed to the registered agent; or
             1141          (ii) the partner of the limited partnership that is mailed the notice, if the notice is
             1142      required to be mailed to a partner of the limited partnership.
             1143          Section 25. Section 48-2a-210 (Repealed 07/01/13) is amended to read:


             1144           48-2a-210 (Repealed 07/01/13). Periodic report.
             1145          (1) (a) [Each] A domestic limited partnership, and [each] a foreign limited partnership
             1146      authorized to transact business in this state, shall file [an annual] a periodic report with the
             1147      division either annually or every five years:
             1148          (i) during the month of its anniversary date of formation, in the case of domestic
             1149      limited partnerships; or
             1150          (ii) during the month of the anniversary date of being granted authority to transact
             1151      business in this state, in the case of foreign limited partnerships authorized to transact business
             1152      in this state.
             1153          (b) The domestic limited partnership or foreign limited partnership makes the election
             1154      of either filing a periodic report annually or every five years. The division shall impose the
             1155      same filing fee for filing annually or every five years.
             1156          [(b)] (c) The [annual] periodic report required by Subsection (1)(a) shall set forth:
             1157          (i) the name of the limited partnership;
             1158          (ii) the state or country under the laws of which it is formed;
             1159          (iii) the information required by Subsection 16-17-203 (1);
             1160          (iv) any change of address of a general partner; and
             1161          (v) a change in the persons constituting the general partners.
             1162          (2) (a) The [annual] periodic report required by Subsection (1) shall:
             1163          (i) be made on forms prescribed and furnished by the division; and
             1164          (ii) contain information that is given as of the date of execution of the [annual] periodic
             1165      report.
             1166          (b) The [annual] periodic report forms shall include a statement of notice to the limited
             1167      partnership that failure to file the [annual] periodic report will result in the dissolution of:
             1168          (i) the limited partnership, in the case of a domestic limited partnership; or
             1169          (ii) its registration, in the case of a foreign limited partnership authorized to transact
             1170      business in this state.
             1171          (c) The [annual] periodic report shall be signed by:
             1172          (i) any general partner under penalty of perjury; and
             1173          (ii) if the registered agent has changed since the last [annual] periodic report or other
             1174      appointment of a registered agent, the new registered agent.


             1175          (3) (a) If the division finds that the [annual] periodic report required by Subsection (1)
             1176      conforms to the requirements of this chapter, it shall file the [annual] periodic report.
             1177          (b) If the division finds that the [annual] periodic report required by Subsection (1)
             1178      does not conform to the requirements of this chapter, the division shall mail the periodic report
             1179      first-class postage prepaid to the limited partnership at the addresses set forth in the certificate
             1180      for any necessary corrections.
             1181          (c) If the division returns [an annual] a periodic report in accordance with Subsection
             1182      (3)(b), the penalties for failure to file the [annual] periodic report within the time prescribed in
             1183      Section 48-2a-203.5 do not apply, as long as the periodic report is corrected and returned to the
             1184      division within 30 days from the date the nonconforming report was mailed to the limited
             1185      partnership.
             1186          Section 26. Section 48-2c-121 (Repealed 07/01/13) is amended to read:
             1187           48-2c-121 (Repealed 07/01/13). Scope of notice.
             1188          (1) Articles of organization that have been filed with the division constitute notice to
             1189      third persons, and to members and managers of the company:
             1190          (a) that the company is a limited liability company formed under the laws of this state;
             1191      and
             1192          (b) of all statements set forth in the articles of organization that are:
             1193          (i) required by Subsection 48-2c-403 (1) to be set forth in articles of organization; and
             1194          (ii) expressly permitted to be set forth in the articles of organization by Subsection
             1195      48-2c-403 (4).
             1196          (2) The filing with the division of [any annual] a periodic report required by Section
             1197      48-2c-203 constitutes notice to third persons, as well as to members and managers of the
             1198      company, of the information set forth in the [annual] periodic report which is required by
             1199      Section 48-2c-203 to be set forth in [an annual] a periodic report.
             1200          (3) The filing with the division of any statement allowed by Section 48-2c-122 is
             1201      notice to third persons, as well as to members and managers of the company, of the information
             1202      set forth in that statement which is expressly permitted to be set forth in that statement by
             1203      Section 48-2c-122 .
             1204          (4) The filing with the division of a certified copy of a court order under Subsection
             1205      48-2c-809 (5) is notice of the contents of the order to:


             1206          (a) third persons;
             1207          (b) members of the company; and
             1208          (c) managers of the company.
             1209          Section 27. Section 48-2c-122 (Repealed 07/01/13) is amended to read:
             1210           48-2c-122 (Repealed 07/01/13). Statement of person named as manager or
             1211      member.
             1212          Any person named as a manager or member of a domestic company or foreign company
             1213      in [an annual] a periodic report or other document on file with the division may, if that person
             1214      does not hold the position of manager or member, deliver to the division for filing a written
             1215      statement setting forth:
             1216          (1) the person's name;
             1217          (2) the name of the company;
             1218          (3) information sufficient to identify the report or other document in which that person
             1219      is named as a manager or member; and
             1220          (4) the date on which [he] the person ceased to be a manager or member of the
             1221      company, or a statement that the person did not hold the position for which that person was
             1222      named in the report or other document.
             1223          Section 28. Section 48-2c-203 (Repealed 07/01/13) is amended to read:
             1224           48-2c-203 (Repealed 07/01/13). Periodic report.
             1225          (1) (a) A company or a foreign company authorized to transact business in this state
             1226      shall file [an annual] a periodic report with the division either annually or every five years:
             1227          (i) during the month of its anniversary date of formation, in the case of domestic
             1228      companies; or
             1229          (ii) during the month of the anniversary date of being granted authority to transact
             1230      business in this state, in the case of foreign companies authorized to transact business in this
             1231      state.
             1232          (b) The company or foreign company makes the election of either filing a periodic
             1233      report annually or every five years. The division shall impose the same filing fee for filing
             1234      annually or every five years.
             1235          [(b) An annual] (c) A periodic report required by Subsection (1)(a) shall set forth:
             1236          (i) the name of the company;


             1237          (ii) the state or country under the laws of which it is formed; and
             1238          (iii) any change in:
             1239          (A) the information required by Subsection 16-17-203 (1);
             1240          (B) if the street address or legal name of any manager in a manager-managed company,
             1241      any member in a member-managed company, or any person with management authority of a
             1242      foreign company changes, the new street address or legal name of the manager, member, or
             1243      other person; and
             1244          (C) the identity of the persons constituting the managers in a manager-managed
             1245      company or members in a member-managed company or other person with management
             1246      authority of a foreign company.
             1247          (2) (a) The [annual] periodic report required by Subsection (1) shall:
             1248          (i) be made on a form prescribed and furnished by the division; and
             1249          (ii) contain information that is given as of the date of signing the [annual] periodic
             1250      report.
             1251          (b) [An annual] A periodic report form shall include a statement notifying the company
             1252      that failure to file the [annual] periodic report will result in:
             1253          (i) the dissolution of the company, in the case of a domestic company; or
             1254          (ii) the revocation of authority to transact business in this state, in the case of a foreign
             1255      company.
             1256          (3) The fact that an individual's name is signed on [an annual] a periodic report form is
             1257      prima facie evidence for division purposes that the individual is authorized to certify the report
             1258      on behalf of the company.
             1259          (4) (a) If the [annual] periodic report conforms to the requirements of this chapter, the
             1260      division shall file the periodic report.
             1261          (b) If the [annual] periodic report does not conform to the requirements of this chapter,
             1262      the division shall mail the report, first class postage prepaid, to the registered agent of the
             1263      company for any necessary corrections at the street address for the registered agent most
             1264      recently furnished to the division by notice, [annual] periodic report, or other document.
             1265          (c) If the division returns [an annual] a periodic report in accordance with Subsection
             1266      (4)(b), the penalties for failure to file the periodic report within the time prescribed in this
             1267      section do not apply, as long as the [annual] periodic report is corrected and returned to the


             1268      division within 30 days from the date the nonconforming report was mailed to the registered
             1269      agent of the company.
             1270          Section 29. Section 48-2c-213 (Repealed 07/01/13) is amended to read:
             1271           48-2c-213 (Repealed 07/01/13). Certificates issued by the division.
             1272          (1) Anyone may apply to the division for a certificate of existence for a domestic
             1273      company, a certificate of authorization for a foreign company, or a certificate that sets forth any
             1274      facts of record in the office of the division.
             1275          (2) A certificate of existence or authorization shall state:
             1276          (a) the domestic company's name or the foreign company's name as registered in this
             1277      state;
             1278          (b) (i) that the domestic company is duly formed under the law of this state and the date
             1279      of its formation; or
             1280          (ii) that the foreign company is authorized to transact business in this state;
             1281          (c) that all fees, taxes, and penalties owed to this state have been paid, if:
             1282          (i) payment is reflected in the records of the division; and
             1283          (ii) nonpayment affects the existence or authorization of the domestic or foreign
             1284      company;
             1285          (d) that its most recent [annual] periodic report required by Section 48-2c-203 has been
             1286      filed with the division;
             1287          (e) that articles of dissolution have not been filed with the division; and
             1288          (f) other facts of record in the office of the division that may be requested by the
             1289      applicant.
             1290          (3) Subject to any qualification stated in the certificate, a certificate issued by the
             1291      division may be relied upon as conclusive evidence of the facts set forth in the certificate.
             1292          Section 30. Section 48-2c-309 (Repealed 07/01/13) is amended to read:
             1293           48-2c-309 (Repealed 07/01/13). Service on withdrawn foreign company.
             1294          (1) A foreign company that has withdrawn from this state pursuant to Section
             1295      48-2c-1611 shall either:
             1296          (a) maintain a registered agent in this state to accept service of process on its behalf in
             1297      any proceeding based on a cause of action arising during the time it was transacting business in
             1298      this state, in which case the continued authority of the registered agent shall be specified in the


             1299      application for withdrawal and any change shall be governed by Title 16, Chapter 17, Model
             1300      Registered Agents Act, which applies to foreign companies authorized to transact business in
             1301      this state; or
             1302          (b) be considered to have authorized service of process on it, in connection with any
             1303      cause of action arising during the time it was transacting business in this state, by registered or
             1304      certified mail, return receipt requested, to:
             1305          (i) the address of its principal office, if any, set forth in its application for withdrawal
             1306      or as listed in the notice, [annual] periodic report, or document most recently filed with the
             1307      division; or
             1308          (ii) the address for service of process that is stated in its application for withdrawal or
             1309      as listed in the notice, [annual] periodic report, or document most recently filed with the
             1310      division.
             1311          (2) Service effected pursuant to Subsection (1)(b) is perfected at the earliest of:
             1312          (a) the date the withdrawn foreign company receives the process, notice, or demand;
             1313          (b) the date shown on the return receipt, if signed on behalf of the withdrawn foreign
             1314      company; or
             1315          (c) five days after mailing.
             1316          (3) This section does not limit or affect the right to serve, in any other manner
             1317      permitted by law, any process, notice, or demand required or permitted by law to be served
             1318      upon a withdrawn foreign company.
             1319          Section 31. Section 48-2c-804 (Repealed 07/01/13) is amended to read:
             1320           48-2c-804 (Repealed 07/01/13). Management by managers.
             1321          In a manager-managed company, each manager and each member shall be subject to
             1322      Section 48-2c-807 and:
             1323          (1) (a) the initial managers shall be designated in the articles of organization; and
             1324          (b) after the initial managers, the managers shall be those persons identified in
             1325      documents filed with the division including:
             1326          (i) amendments to the articles of organization;
             1327          (ii) the [annual] periodic reports required under Section 48-2c-203 ; and
             1328          (iii) the statements required or permitted under Section 48-2c-122 ;
             1329          (2) when there is a change in the management structure from a member-managed


             1330      company to a manager-managed company, the managers shall be those persons identified in the
             1331      certificate of amendment to the articles of organization that makes the change;
             1332          (3) each manager who is a natural person must have attained the age of majority under
             1333      the laws of this state;
             1334          (4) no manager shall have authority to do any act in contravention of the articles of
             1335      organization or the operating agreement, except as provided in Subsection (6)(g);
             1336          (5) a manager who is also a member shall have all of the rights of a member;
             1337          (6) unless otherwise provided in the articles of organization or operating agreement of
             1338      the company:
             1339          (a) except for the initial managers, each manager shall be elected at any time by the
             1340      members holding at least a majority of the profits interests in the company, and any vacancy
             1341      occurring in the position of manager shall be filled in the same manner;
             1342          (b) the number of managers:
             1343          (i) shall be fixed by the members in the operating agreement; or
             1344          (ii) shall be the number designated by members holding at least a majority of the
             1345      profits interests in the company if the operating agreement fails to designate the number of
             1346      managers;
             1347          (c) each manager shall serve until the earliest to occur of:
             1348          (i) the manager's death, withdrawal, or removal;
             1349          (ii) an event described in Subsection 48-2c-708 (1)(f); or
             1350          (iii) if membership in the company is a condition to being a manager, an event
             1351      described in Subsection 48-2c-708 (1)(d) or (e);
             1352          (d) a manager need not be a member of the company or a resident of this state;
             1353          (e) any manager may be removed with or without cause by the members, at any time,
             1354      by the decision of members owning a majority of the profits interests in the company;
             1355          (f) there shall be only one class of managers; and
             1356          (g) approval by:
             1357          (i) all of the members and all of the managers shall be required for matters described in
             1358      Subsection 48-2c-803 (2); and
             1359          (ii) members holding 2/3 of the profits interests in the company, and 2/3 of the
             1360      managers shall be required for all matters described in Subsection 48-2c-803 (3).


             1361          Section 32. Section 48-2c-1206 (Repealed 07/01/13) is amended to read:
             1362           48-2c-1206 (Repealed 07/01/13). Grounds for administrative dissolution.
             1363          The division may dissolve a company under Section 48-2c-1207 if:
             1364          (1) the company does not pay when due, any taxes, fees, or penalties imposed by this
             1365      chapter or other applicable laws of this state;
             1366          (2) the company does not file its [annual] periodic report with the division when it is
             1367      due;
             1368          (3) the company is without a registered agent or registered office in this state; or
             1369          (4) the company fails to give notice to the division that:
             1370          (a) its registered agent has been changed;
             1371          (b) its registered agent has resigned; or
             1372          (c) the company's period of duration has expired.
             1373          Section 33. Section 48-2c-1207 (Repealed 07/01/13) is amended to read:
             1374           48-2c-1207 (Repealed 07/01/13). Procedure for and effect of administrative
             1375      dissolution.
             1376          (1) If the division determines that one or more grounds exist under Section 48-2c-1206
             1377      for dissolving a company, it shall mail to the company written notice of:
             1378          (a) the division's determination that one or more grounds exist for dissolving the
             1379      company; and
             1380          (b) the grounds for dissolving the company.
             1381          (2) (a) If the company does not correct each ground for dissolution, or demonstrate to
             1382      the reasonable satisfaction of the division that each ground does not exist, within 60 days after
             1383      mailing the notice provided in Subsection (1), the division shall administratively dissolve the
             1384      company.
             1385          (b) If a company is dissolved under Subsection (2)(a), the division shall mail written
             1386      notice of the administrative dissolution to the dissolved company at its principal office, stating
             1387      the date of dissolution specified in Subsection (2)(d).
             1388          (c) The division shall mail a copy of the notice of administrative dissolution including
             1389      a statement of the grounds for the administrative dissolution, to:
             1390          (i) the registered agent of the dissolved company; or
             1391          (ii) if there is no registered agent of record, or if the mailing to the registered agent is


             1392      returned as undeliverable, at least one member if the company is member-managed or one
             1393      manager of the company if the company is manager-managed, at their addresses as reflected on
             1394      the notice, [annual] periodic report, or document most recently filed with the division.
             1395          (d) A company's effective date of administrative dissolution is five days after the date
             1396      the division mails the written notice of dissolution under Subsection (2)(b).
             1397          (e) On the effective date of dissolution, any assumed names filed on behalf of the
             1398      dissolved company under Title 42, Chapter 2, Conducting Business Under Assumed Name, are
             1399      canceled.
             1400          (f) Notwithstanding Subsection (2)(e), the name of the company that is dissolved and
             1401      any assumed names filed on its behalf are not available for two years from the effective date of
             1402      dissolution for use by any other person:
             1403          (i) transacting business in this state; or
             1404          (ii) doing business under an assumed name under Title 42, Chapter 2, Conducting
             1405      Business Under Assumed Name.
             1406          (g) Notwithstanding Subsection (2)(e), if the company that is dissolved is reinstated in
             1407      accordance with Section 48-2c-1208 , the registration of the name of the company and any
             1408      assumed names filed on its behalf are reinstated back to the effective date of dissolution.
             1409          (3) (a) Except as provided in Subsection (3)(b), a company administratively dissolved
             1410      under this section continues its existence but may not carry on any business except:
             1411          (i) the business necessary to wind up and liquidate its business and affairs under Part
             1412      13, Winding Up; and
             1413          (ii) to give notice to claimants in the manner provided in Sections 48-2c-1305 and
             1414      48-2c-1306 .
             1415          (b) If the company is reinstated in accordance with Section 48-2c-1208 , business
             1416      conducted by the company during a period of administrative dissolution is unaffected by the
             1417      dissolution.
             1418          (4) The administrative dissolution of a company does not terminate the authority of its
             1419      registered agent.
             1420          (5) A notice mailed under this section shall be:
             1421          (a) mailed first-class, postage prepaid; and
             1422          (b) addressed to the most current mailing address appearing on the records of the


             1423      division for:
             1424          (i) the principal office of the company, if the notice is required to be mailed to the
             1425      company;
             1426          (ii) the registered agent of the company, if the notice is required to be mailed to the
             1427      registered agent; or
             1428          (iii) any member if the company is member-managed, or to any manager of the
             1429      company if the company is manager-managed, if the notice is required to be mailed to a
             1430      member or manager of the company.
             1431          Section 34. Section 48-2c-1612 (Repealed 07/01/13) is amended to read:
             1432           48-2c-1612 (Repealed 07/01/13). Grounds for revocation.
             1433          The division may commence a proceeding under Section 48-2c-1613 to revoke the
             1434      authority of a foreign company to transact business in this state if:
             1435          (1) the foreign company does not deliver its [annual] periodic report to the division
             1436      when it is due;
             1437          (2) the foreign company does not pay when they are due any taxes, fees, or penalties
             1438      imposed by this chapter or other applicable laws of this state;
             1439          (3) the foreign company is without a registered agent in this state;
             1440          (4) the foreign company does not inform the division under Title 16, Chapter 17,
             1441      Model Registered Agents Act, that its registered agent has changed or that its registered agent
             1442      has resigned;
             1443          (5) an organizer, member, manager, or agent of the foreign company signs a document
             1444      knowing it is false in any material respect with intent that the document be delivered to the
             1445      division for filing; or
             1446          (6) the division receives a duly authenticated certificate from the lieutenant governor or
             1447      other official having custody of limited liability company records in the state or country under
             1448      whose law the foreign company is formed or organized stating that the foreign company has
             1449      dissolved or disappeared as the result of a merger.
             1450          Section 35. Section 48-2c-1902 (Repealed 07/01/13) is amended to read:
             1451           48-2c-1902 (Repealed 07/01/13). Transitional provisions.
             1452          (1) Each limited liability company formed prior to July 1, 2001, under the laws of this
             1453      state, and existing on July 1, 2001:


             1454          (a) shall continue in existence with all rights and privileges applicable to limited
             1455      liability companies formed under this chapter;
             1456          (b) need not amend its articles of organization to include the address of its designated
             1457      office if it includes the information in its first [annual] periodic report filed with the division
             1458      after July 1, 2001, and in all subsequent [annual] periodic reports; and
             1459          (c) that provides professional services as defined in Part 15 of this chapter, need not
             1460      amend its articles of organization to comply with Section 48-2c-1509 if it includes the
             1461      information in its first [annual] periodic report filed with the division after July 1, 2001, and in
             1462      all subsequent [annual] periodic reports.
             1463          (2) All domestic companies formed prior to July 1, 2001, under the laws this state, as
             1464      well as their managers, members, and assignees of members, as applicable, shall have all the
             1465      rights and privileges and shall be subject to all the requirements, restrictions, duties, liabilities,
             1466      and remedies prescribed in this chapter.
             1467          (3) Each foreign limited liability company authorized to transact business in this state
             1468      as of July 1, 2001, is subject to the provisions of this chapter, but is not required by reason of
             1469      enactment of this chapter to obtain a new certificate of authority to transact business in this
             1470      state.
             1471          Section 36. Section 48-2d-111 (Effective 07/01/13) is amended to read:
             1472           48-2d-111 (Effective 07/01/13). Required information.
             1473          A limited partnership shall maintain at its designated office the following information:
             1474          (1) a current list showing the full name and last known street and mailing address of
             1475      each partner, separately identifying the general partners, in alphabetical order, and the limited
             1476      partners, in alphabetical order;
             1477          (2) a copy of the initial certificate of limited partnership and all amendments to and
             1478      restatements of the certificate, together with signed copies of any powers of attorney under
             1479      which any certificate, amendment, or restatement has been signed;
             1480          (3) a copy of any filed articles of conversion or merger;
             1481          (4) a copy of the limited partnership's federal, state, and local income tax returns and
             1482      reports, if any, for the three most recent years;
             1483          (5) a copy of any partnership agreement made in a record and any amendment made in
             1484      a record to any partnership agreement;


             1485          (6) a copy of any financial statement of the limited partnership for the three most recent
             1486      years;
             1487          (7) a copy of the three most recent [annual] periodic reports delivered by the limited
             1488      partnership to the division pursuant to Section 48-2d-210 ;
             1489          (8) a copy of any record made by the limited partnership during the past three years of
             1490      any consent given by or vote taken of any partner pursuant to this chapter or the partnership
             1491      agreement; and
             1492          (9) unless contained in a partnership agreement made in a record, a record stating:
             1493          (a) the amount of cash, and a description and statement of the agreed value of the other
             1494      benefits, contributed and agreed to be contributed by each partner;
             1495          (b) the times at which, or events on the happening of which, any additional
             1496      contributions agreed to be made by each partner are to be made;
             1497          (c) for any person that is both a general partner and a limited partner, a specification of
             1498      what transferable interest the person owns in each capacity; and
             1499          (d) any events upon the happening of which the limited partnership is to be dissolved
             1500      and its activities wound up.
             1501          Section 37. Section 48-2d-209 (Effective 07/01/13) is amended to read:
             1502           48-2d-209 (Effective 07/01/13). Certificate of existence or authorization.
             1503          (1) The division, upon request and payment of the requisite fee, shall furnish a
             1504      certificate of existence for a limited partnership if the records filed in the division show that the
             1505      division has filed a certificate of limited partnership and has not filed a statement of
             1506      termination. A certificate of existence must state:
             1507          (a) the limited partnership's name;
             1508          (b) that it was duly formed under the laws of this state and the date of formation;
             1509          (c) whether all fees, taxes, and penalties due to the division under this chapter or other
             1510      law have been paid;
             1511          (d) whether the limited partnership's most recent [annual] periodic report required by
             1512      Section 48-2d-210 has been filed by the division;
             1513          (e) whether the division has administratively dissolved the limited partnership;
             1514          (f) whether the limited partnership's certificate of limited partnership has been
             1515      amended to state that the limited partnership is dissolved;


             1516          (g) that a statement of termination has not been filed by the division; and
             1517          (h) other facts of record in the division which may be requested by the applicant.
             1518          (2) The division, upon request and payment of the requisite fee, shall furnish a
             1519      certificate of authorization for a foreign limited partnership if the records filed in the division
             1520      show that the division has filed a certificate of authority, has not revoked the certificate of
             1521      authority, and has not filed a notice of cancellation. A certificate of authorization must state:
             1522          (a) the foreign limited partnership's name and any alternate name adopted under
             1523      Subsection 48-2d-905 (1) for use in this state;
             1524          (b) that it is authorized to transact business in this state;
             1525          (c) whether all fees, taxes, and penalties due to the division under this chapter or other
             1526      law have been paid;
             1527          (d) whether the foreign limited partnership's most recent [annual] periodic report
             1528      required by Section 48-2d-210 has been filed by the division;
             1529          (e) that the division has not revoked its certificate of authority and has not filed a notice
             1530      of cancellation; and
             1531          (f) other facts of record in the division which may be requested by the applicant.
             1532          (3) Subject to any qualification stated in the certificate, a certificate of existence or
             1533      authorization issued by the division may be relied upon as conclusive evidence that the limited
             1534      partnership or foreign limited partnership is in existence or is authorized to transact business in
             1535      this state.
             1536          Section 38. Section 48-2d-210 (Effective 07/01/13) is amended to read:
             1537           48-2d-210 (Effective 07/01/13). Periodic report for division.
             1538          (1) A limited partnership or a foreign limited partnership authorized to transact
             1539      business in this state shall deliver to the division for filing [an annual] a periodic report that
             1540      states:
             1541          (a) the name of the limited partnership or foreign limited partnership;
             1542          (b) the information required by Subsection 16-17-203 (1);
             1543          (c) in the case of a limited partnership, the street and mailing address of its principal
             1544      office; and
             1545          (d) in the case of a foreign limited partnership, the state or other jurisdiction under
             1546      whose law the foreign limited partnership is formed and any alternate name adopted under


             1547      Subsection 48-2d-905 (1).
             1548          (2) Information in [an annual] a periodic report must be current as of the date the
             1549      [annual] periodic report is delivered to the division for filing.
             1550          (3) [An annual] (a) A periodic report must be delivered to the division either annually
             1551      or every five years:
             1552          [(a)] (i) during the month of its anniversary date of formation, in the case of domestic
             1553      limited partnerships; or
             1554          [(b)] (ii) during the month of the anniversary date of being granted authority to transact
             1555      business in this state, in the case of foreign limited partnerships authorized to transact business
             1556      in this state.
             1557          (b) The limited partnership or foreign limited partnership makes the election of either
             1558      filing a periodic report annually or every five years. The division shall impose the same filing
             1559      fee for filing annually or every five years.
             1560          (4) If [an annual] a periodic report does not contain the information required in
             1561      Subsection (1), the division shall promptly notify the reporting limited partnership or foreign
             1562      limited partnership and return the periodic report to it for correction. If the periodic report is
             1563      corrected to contain the information required in Subsection (1) and delivered to the division
             1564      within 30 days after the effective date of the notice, it is timely delivered.
             1565          (5) If a filed [annual] periodic report contains information provided under Subsection
             1566      (1)(b) which differs from the information shown in the records of the division immediately
             1567      before the filing, the differing information in the [annual] periodic report is considered a
             1568      statement of change under Section 16-17-206 .
             1569          Section 39. Section 48-2d-809 (Effective 07/01/13) is amended to read:
             1570           48-2d-809 (Effective 07/01/13). Administrative dissolution.
             1571          (1) The division may dissolve a limited partnership administratively if the limited
             1572      partnership does not, within 60 days after the due date:
             1573          (a) pay any fee, tax, or penalty due to the division under this chapter or other law; or
             1574          (b) deliver its [annual] periodic report to the division.
             1575          (2) If the division determines that a ground exists for administratively dissolving a
             1576      limited partnership, the division shall file a record of the determination and serve the limited
             1577      partnership with a copy of the filed record.


             1578          (3) If within 60 days after service of the copy the limited partnership does not correct
             1579      each ground for dissolution or demonstrate to the reasonable satisfaction of the division that
             1580      each ground determined by the division does not exist, the division shall administratively
             1581      dissolve the limited partnership by preparing, signing, and filing a declaration of dissolution
             1582      that states the grounds for dissolution. The division shall serve the limited partnership with a
             1583      copy of the filed declaration.
             1584          (4) A limited partnership administratively dissolved continues its existence but may
             1585      carry on only activities necessary to wind up its activities and liquidate its assets under Sections
             1586      48-2d-803 and 48-2d-812 and to notify claimants under Sections 48-2d-806 and 48-2d-807 .
             1587          (5) The administrative dissolution of a limited partnership does not terminate the
             1588      authority of its agent for service of process.
             1589          Section 40. Section 48-2d-906 (Effective 07/01/13) is amended to read:
             1590           48-2d-906 (Effective 07/01/13). Revocation of certificate of authority.
             1591          (1) A certificate of authority of a foreign limited partnership to transact business in this
             1592      state may be revoked by the division in the manner provided in Subsections (2) and (3) if the
             1593      foreign limited partnership does not:
             1594          (a) pay, within 60 days after the due date, any fee, tax, or penalty due to the division
             1595      under this chapter or other law;
             1596          (b) deliver to the division, within 60 days after the due date, its [annual] periodic report
             1597      required under Section 48-2d-210 ;
             1598          (c) appoint and maintain an agent for service of process as required by Subsection
             1599      16-17-203 (1); or
             1600          (d) deliver to the division for filing a statement of a change under Section 16-17-206
             1601      within 30 days after a change has occurred in the name or address of the agent.
             1602          (2) To revoke a certificate of authority, the division must prepare, sign, and file a
             1603      notice of revocation and send a copy to the foreign limited partnership's agent for service of
             1604      process in this state, or if the foreign limited partnership does not appoint and maintain a
             1605      proper agent in this state, to the foreign limited partnership's principal office. The notice must
             1606      state:
             1607          (a) the revocation's effective date, which must be at least 60 days after the date the
             1608      division sends the copy; and


             1609          (b) the foreign limited partnership's failures to comply with Subsection (1) which are
             1610      the reason for the revocation.
             1611          (3) The authority of the foreign limited partnership to transact business in this state
             1612      ceases on the effective date of the notice of revocation unless before that date the foreign
             1613      limited partnership cures each failure to comply with Subsection (1) stated in the notice. If the
             1614      foreign limited partnership cures the failures, the division shall so indicate on the filed notice.
             1615          Section 41. Section 48-3-208 (Effective 07/01/13) is amended to read:
             1616           48-3-208 (Effective 07/01/13). Certificate of existence or authorization.
             1617          (1) The division, upon request and payment of the requisite fee, shall furnish to any
             1618      person a certificate of existence for a limited liability company if the records filed in the
             1619      division show that the limited liability company has been formed under Section 48-3-201 and
             1620      the division has not filed a statement of termination pertaining to the limited liability company.
             1621      A certificate of existence must state:
             1622          (a) the limited liability company's name;
             1623          (b) that the limited liability company was duly formed under the laws of this state and
             1624      the date of formation;
             1625          (c) whether all fees, taxes, and penalties due under this chapter or other law to the
             1626      division have been paid;
             1627          (d) whether the limited liability company's most recent [annual] periodic report
             1628      required by Section 48-3-209 has been filed by the division;
             1629          (e) whether the division has administratively dissolved the limited liability company;
             1630          (f) whether the limited liability company has delivered to the division for filing a
             1631      statement of dissolution;
             1632          (g) that a statement of termination has not been filed by the division; and
             1633          (h) other facts of record in the division which are specified by the person requesting the
             1634      certificate.
             1635          (2) The division, upon request and payment of the requisite fee, shall furnish to any
             1636      person a certificate of authorization for a foreign limited liability company if the records filed
             1637      in the division show that the division has filed a certificate of authority, has not revoked the
             1638      certificate of authority, and has not filed a notice of cancellation. A certificate of authorization
             1639      must state:


             1640          (a) the limited liability company's name and any alternate name adopted under
             1641      Subsection 48-3-805 (1) for use in this state;
             1642          (b) that the limited liability company is authorized to transact business in this state;
             1643          (c) whether all fees, taxes, and penalties due under this chapter or other law to the
             1644      division have been paid;
             1645          (d) whether the limited liability company's most recent [annual] periodic report
             1646      required by Section 48-3-209 has been filed by the division;
             1647          (e) that the division has not revoked the limited liability company's certificate of
             1648      authority and has not filed a notice of cancellation; and
             1649          (f) other facts of record in the division which are specified by the person requesting the
             1650      certificate.
             1651          (3) Subject to any qualification stated in the certificate, a certificate of existence or
             1652      certificate of authorization issued by the division is conclusive evidence that the limited
             1653      liability company is in existence or the foreign limited liability company is authorized to
             1654      transact business in this state.
             1655          Section 42. Section 48-3-209 (Effective 07/01/13) is amended to read:
             1656           48-3-209 (Effective 07/01/13). Periodic report for division.
             1657          (1) [Each year] Either annually or every five years, a limited liability company or a
             1658      foreign limited liability company authorized to transact business in this state shall deliver to the
             1659      division for filing a periodic report that states:
             1660          (a) the name of the limited liability company;
             1661          (b) the information required by Subsection 16-17-203 (1);
             1662          (c) the street and mailing addresses of its principal office; and
             1663          (d) in the case of a foreign limited liability company, the state or other jurisdiction
             1664      under whose law the limited liability company is formed and any alternate name adopted under
             1665      Subsection 48-3-805 (1).
             1666          (2) Information in [an annual] a periodic report under this section must be current as of
             1667      the date the periodic report is delivered to the division for filing.
             1668          (3) (a) A periodic report must be delivered to the division either annually or every five
             1669      years:
             1670          [(a)] (i) during the month of its anniversary date of formation, in the case of a domestic


             1671      limited liability company; or
             1672          [(b)] (ii) during the month of the anniversary date of being granted authority to transact
             1673      business in this state, in the case of a foreign limited liability company authorized to transact
             1674      business in this state.
             1675          (b) The domestic limited liability company or foreign limited liability company makes
             1676      the election of either filing a periodic report annually or every five years. The division shall
             1677      impose the same filing fee for filing annually or every five years.
             1678          (4) If [an annual] a periodic report under this section does not contain the information
             1679      required in Subsection (1), the division shall promptly notify the reporting limited liability
             1680      company or foreign limited liability company and return the periodic report to it for correction.
             1681      If the periodic report is corrected to contain the information required in Subsection (1) and
             1682      delivered to the division within 30 days after the effective date of the notice, it is timely
             1683      delivered.
             1684          (5) If [an annual] a periodic report under this section contains information provided
             1685      under Subsection (1)(b) that differs from the information shown in the records of the division
             1686      immediately before the [annual] periodic report becomes effective, the differing information in
             1687      the [annual] periodic report is considered a statement of change under Section 16-17-206 .
             1688          Section 43. Section 48-3-706 (Effective 07/01/13) is amended to read:
             1689           48-3-706 (Effective 07/01/13). Administrative dissolution.
             1690          (1) The division may dissolve a limited liability company administratively if the
             1691      limited liability company does not:
             1692          (a) pay, within 60 days after the due date, any fee, tax, or penalty due to the division
             1693      under this chapter or law other than this chapter; or
             1694          (b) deliver, within 60 days after the due date, its [annual] periodic report to the
             1695      division.
             1696          (2) If the division determines that a ground exists for administratively dissolving a
             1697      limited liability company, the division shall file a record of the determination and serve the
             1698      limited liability company with a copy of the filed record.
             1699          (3) If within 60 days after service of the copy pursuant to Subsection (2) a limited
             1700      liability company does not correct each ground for dissolution or demonstrate to the reasonable
             1701      satisfaction of the division that each ground determined by the division does not exist, the


             1702      division shall dissolve the limited liability company administratively by preparing, signing, and
             1703      filing a declaration of dissolution that states the grounds for dissolution. The division shall
             1704      serve the limited liability company with a copy of the filed declaration.
             1705          (4) A limited liability company that has been administratively dissolved continues in
             1706      existence but, subject to Section 48-3-707 , may carry on only activities necessary to wind up its
             1707      activities and liquidate its assets under Sections 48-3-703 and 48-3-709 and to notify claimants
             1708      under Sections 48-3-704 and 48-3-705 .
             1709          (5) The administrative dissolution of a limited liability company does not terminate the
             1710      authority of its agent for service of process.
             1711          Section 44. Section 48-3-806 (Effective 07/01/13) is amended to read:
             1712           48-3-806 (Effective 07/01/13). Revocation of certificate of authority.
             1713          (1) A certificate of authority of a foreign limited liability company to transact business
             1714      in this state may be revoked by the division in the manner provided in Subsections (2) and (3)
             1715      if the limited liability company does not:
             1716          (a) pay, within 60 days after the due date, any fee, tax, or penalty due to the division
             1717      under this chapter or law other than this chapter;
             1718          (b) deliver, within 60 days after the due date, its [annual] periodic report required under
             1719      Section 48-3-209 ;
             1720          (c) appoint and maintain an agent for service of process as required by Subsection
             1721      16-17-203 (1); or
             1722          (d) deliver for filing a statement of a change under Section 16-17-206 within 30 days
             1723      after a change has occurred in the name or address of the agent.
             1724          (2) To revoke a certificate of authority of a foreign limited liability company, the
             1725      division must prepare, sign, and file a notice of revocation and send a copy to the limited
             1726      liability company's agent for service of process in this state, or if the limited liability company
             1727      does not appoint and maintain a proper agent in this state, to the limited liability company's
             1728      principal office. The notice must state:
             1729          (a) the revocation's effective date, which must be at least 60 days after the date the
             1730      division sends the copy; and
             1731          (b) the grounds for revocation under Subsection (1).
             1732          (3) The authority of a foreign limited liability company to transact business in this state


             1733      ceases on the effective date of the notice of revocation unless before that date the limited
             1734      liability company cures each ground for revocation stated in the notice filed under Subsection
             1735      (2). If the limited liability company cures each ground, the division shall file a record so
             1736      stating.
             1737          Section 45. Effective date.
             1738          This bill takes effect on July 1, 2013.
             1739          Section 46. Coordinating H.B. 319 with S.B. 21 -- Substantive amendments.
             1740          If this H.B. 319 and S.B. 21, Unincorporated Business Entities, both pass and become
             1741      law, the Legislature intends that the Office of Legislative Research and General Counsel, in
             1742      preparing the Utah Code database for publication, make changes to the following sections in
             1743      S.B. 21 to take effect on July 1, 2014:
             1744          (1) the reference in Subsection 48-1d-1102 (1)(b) to "an annual" be replaced with "a
             1745      periodic";
             1746          (2) Section 48-1d-1109 be modified to read:
             1747          " 48-1d-1109. Periodic report for division.
             1748          (1) Each limited liability partnership and registered foreign limited liability partnership
             1749      shall deliver to the division for filing a periodic report that states:
             1750          (a) the name of the limited liability partnership or foreign limited liability partnership;
             1751          (b) the information required under Subsection 16-17-203 (1);
             1752          (c) the street and mailing addresses of its principal office;
             1753          (d) the name of at least one partner; and
             1754          (e) in the case of a foreign limited liability partnership, its jurisdiction of formation and
             1755      any alternate name adopted under Subsection 48-1d-1206 (1).
             1756          (2) Information in a periodic report must be current as of the date the periodic report is
             1757      signed by the limited liability partnership or registered foreign limited liability partnership.
             1758          (3) (a) A periodic report must be delivered to the division either for each year
             1759      following the calendar year in which the limited liability partnership's statement of
             1760      qualification became effective or the registered foreign limited liability partnership registered
             1761      to do business in this state or every five years:
             1762          (i) in the case of a limited liability partnership, the periodic report must be delivered to
             1763      the division during the month in which the anniversary date on which the limited liability


             1764      partnership statement of qualification became effective; and
             1765          (ii) in the case of a registered foreign limited liability partnership, the periodic report
             1766      must be delivered to the division during the month in which the anniversary date on which the
             1767      registered foreign limited liability partnership registered to do business in this state.
             1768          (b) The domestic or foreign limited liability partnership makes the election of either
             1769      filing a periodic report annually or every five years. The division shall impose the same filing
             1770      fee for filing annually or every five years.
             1771          (4) If a periodic report does not contain the information required by this section, the
             1772      division promptly shall notify the reporting limited liability partnership or registered foreign
             1773      limited liability partnership in a record and return the periodic report for correction.
             1774          (5) If a periodic report contains the name or address of a registered agent which differs
             1775      from the information shown in the records of the division immediately before the periodic
             1776      report becomes effective, the differing information in the periodic report is considered a
             1777      statement of change under Section 16-17-206 .";
             1778          (3) the reference in Subsection 48-2e-115 (7) to "annual" be replaced with "periodic";
             1779          (4) the reference in Subsection 48-2e-211 (2)(e) to "annual" be replaced with
             1780      "periodic";
             1781          (5) Section 48-2e-212 be modified to read:
             1782          " 48-2e-212. Periodic report for division.
             1783          (1) A limited partnership or a registered foreign limited partnership shall deliver to the
             1784      division for filing a periodic report that states:
             1785          (a) the name of the limited partnership or foreign limited partnership;
             1786          (b) the information required by Subsection 16-17-203 (1);
             1787          (c) the street and mailing addresses of its principal office;
             1788          (d) the name of at least one general partner; and
             1789          (e) in the case of a foreign limited partnership, the jurisdiction whose law governs the
             1790      foreign limited partnership's internal affairs and any alternate name adopted under Subsection
             1791      48-2e-906 (1).
             1792          (2) Information in the periodic report must be current as of the date the report is signed
             1793      by the limited partnership or registered foreign limited partnership.
             1794          (3) (a) A report must be delivered to the division for either each year following the


             1795      calendar year in which the limited partnership's certificate of other limited partnership became
             1796      effective or the registered foreign limited partnership registered to do business in this state or
             1797      every five years:
             1798          (i) in the case of a limited partnership, the periodic report must be delivered to the
             1799      division during the month in which the anniversary date on which the limited partnership
             1800      certificate of limited partnership became effective; and
             1801          (ii) in the case of a registered foreign limited partnership, the periodic report must be
             1802      delivered to the division during the month in which the anniversary date on which the
             1803      registered foreign limited partnership registered to do business in this state.
             1804          (b) The domestic or foreign limited partnership makes the election of either filing a
             1805      periodic report annually or every five years. The division shall impose the same filing fee for
             1806      filing annually or every five years.
             1807          (4) If a periodic report does not contain the information required by this section, the
             1808      division promptly shall notify the reporting limited partnership or registered foreign limited
             1809      partnership in a record and return the report for correction.
             1810          (5) If a periodic report contains the name or address of a registered agent which differs
             1811      from the information shown in the records of the division immediately before the periodic
             1812      report becomes effective, the differing information in the periodic report is considered a
             1813      statement of change under Section 16-17-206 .";
             1814          (6) the reference in Subsection 48-2e-810 (1)(b) to "an annual" be replaced with "a
             1815      periodic";
             1816          (7) the reference in Subsection 48-3a-211 (2)(e) to "annual" be replaced with
             1817      "periodic";
             1818          (8) Section 48-3a-212 be modified to read:
             1819           "48-3a-212. Periodic report for division.
             1820          (1) A limited liability company or a registered foreign limited liability company shall
             1821      deliver to the division for filing a periodic report that states:
             1822          (a) the name of the limited liability company or registered foreign limited liability
             1823      company;
             1824          (b) the information required by Subsection 16-17-203 (1);
             1825          (c) the street and mailing addresses of its principal office;


             1826          (d) the name of at least one governing person; and
             1827          (e) in the case of a foreign limited liability company, its jurisdiction of formation and
             1828      any alternate name adopted under Subsection 48-3a-906 (1).
             1829          (2) Information in the periodic report must be current as of the date the report is signed
             1830      by the limited liability company or registered foreign limited liability company.
             1831          (3) (a) A report must be delivered to the division either for each year following the
             1832      calendar year in which the limited liability company's certificate of organization became
             1833      effective or the registered foreign limited liability company registered to do business in this
             1834      state or every five years:
             1835          (i) in the case of a limited liability company, the periodic report must be delivered to
             1836      the division during the month in which the anniversary date on which the limited liability
             1837      company's certificate of formation became effective; and
             1838          (ii) in the case of a registered foreign limited liability company, the periodic report
             1839      must be delivered to the division during the month in which the anniversary date on which the
             1840      registered foreign limited liability company registered to do business in this state.
             1841          (b) The domestic or foreign limited liability company makes the election of either
             1842      filing a periodic report annually or every five years. The division shall impose the same filing
             1843      fee for filing annually or every five years.
             1844          (4) If a periodic report does not contain the information required by this section, the
             1845      division promptly shall notify the reporting limited liability company or registered foreign
             1846      limited liability company in a record and return the report for correction.
             1847          (5) If a periodic report contains the name or address of a registered agent which differs
             1848      from the information shown in the records of the division immediately before the periodic
             1849      report becomes effective, the differing information in the periodic report is considered a
             1850      statement of change under Section 16-17-206 ."; and
             1851          (9) the reference in Subsection 48-3a-708 (1)(b) to "an annual" be replaced with "a
             1852      periodic."





Legislative Review Note
    as of 2-14-13 12:54 PM


Office of Legislative Research and General Counsel


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