Utah Code 16-6a-1505. Effect of filing an application for authority to conduct affairs
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(1) Filing an application for authority to conduct affairs authorizes the foreign nonprofit corporation to conduct affairs in this state, subject to the right of the state to revoke the authority as provided in this part.
Terms Used In Utah Code 16-6a-1505
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- domestic nonprofit corporation: means an entity that:(37)(a) is not a foreign nonprofit corporation; and(37)(b) is incorporated under or subject to this chapter. See Utah Code 16-6a-102
- Foreign nonprofit corporation: means an entity:
(28)(a) incorporated under a law other than the laws of this state; and(28)(b) that would be a nonprofit corporation if formed under the laws of this state. See Utah Code 16-6a-102- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
- State: when applied to the different parts of the United States, includes a state, district, or territory of the United States. See Utah Code 68-3-12.5
(2) A foreign nonprofit corporation that has authority to conduct affairs in this state:(2)(a) has the same rights and privileges as, but no greater rights or privileges than, a domestic nonprofit corporation of like character; and(2)(b) except as otherwise provided by this chapter, is subject to the same duties, restrictions, penalties, and liabilities imposed on or later to be imposed on, a domestic nonprofit corporation of like character.(3) This chapter does not authorize this state to regulate the organization or internal affairs of a foreign nonprofit corporation authorized to conduct affairs in this state. - Foreign nonprofit corporation: means an entity: