Utah Code 48-3a-104. Nature, purpose, and duration of limited liability company
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(1) A limited liability company is an entity distinct from its member or members.
Terms Used In Utah Code 48-3a-104
- 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(2) A limited liability company may have any lawful purpose, regardless of whether for profit.(3) A limited liability company has perpetual duration.