Utah Code 48-3a-103. Knowledge — Notice
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(1) A person knows a fact if the person:
Terms Used In Utah Code 48-3a-103
- Member: means a person that:(14)(a) has become a member of a limited liability company under Section 48-3a-401 or was a member in a company when the company became subject to this chapter under Section 48-3a-1405; and(14)(b) has not dissociated under Section 48-3a-602. See Utah Code 48-3a-102
- Person: means an individual, business corporation, nonprofit corporation, partnership, limited partnership, limited liability company, limited cooperative association, unincorporated nonprofit association, statutory trust, business trust, common-law business trust, estate, trust, association, joint venture, public corporation, government or governmental subdivision, agency, or instrumentality, or any other legal or commercial entity. See Utah Code 48-3a-102
- Transfer: includes :
(28)(a) an assignment;(28)(b) a conveyance;(28)(c) a sale;(28)(d) a lease;(28)(e) an encumbrance, including a mortgage or security interest;(28)(f) a gift; and(28)(g) a transfer by operation of law. See Utah Code 48-3a-102(1)(a) has actual knowledge of it; or(1)(b) is deemed to know it under Subsection (4)(a) or law other than this chapter.(2) A person has notice of a fact if the person:(2)(a) has reason to know the fact from all the facts known to the person at the time in question; or(2)(b) is deemed to have notice of the fact under Subsection (4)(b).(3) Subject to Subsection 48-3a-209(6), a person notifies another person of a fact by taking steps reasonably required to inform the other person in ordinary course, whether or not those steps cause the other person to know the fact.(4) A person not a member is deemed:(4)(a) to know of a limitation on authority to transfer real property as provided in Subsection 48-3a-302(7); and(4)(b) to have notice of a limited liability company’s:(4)(b)(i) dissolution 90 days after a statement of dissolution under Subsection 48-3a-703(2)(b)(i) becomes effective;(4)(b)(ii) termination 90 days after a statement of termination under Subsection 48-3a-703(2)(b)(vi) becomes effective;(4)(b)(iii) participation in a merger, interest exchange, conversion, or domestication 90 days after a statement of merger, interest exchange, conversion, or domestication under Part 10, Merger, Interest Exchange, Conversion, and Domestication, becomes effective; and(4)(b)(iv) abandonment of a merger, interest exchange, conversion, or domestication 90 days after a statement of abandonment of merger, interest exchange, conversion, or domestication under Part 10, Merger, Interest Exchange, Conversion, and Domestication, becomes effective.