Utah Code 31A-17-407. Accounting for repurchased shares
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Terms Used In Utah Code 31A-17-407
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
When a corporation acquires its own shares under Section 31A-5-306 or in any other way, the acquired shares are accounted as a deduction from capital and not as assets.