Utah Code 48-4-102. Application and effect of chapter
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(1) This chapter applies to a benefit company organized under this chapter.
Terms Used In Utah Code 48-4-102
- Benefit company: means a limited liability company:(1)(a) that elects to become subject to this chapter; and(1)(b) the status of which as a benefit company has not been terminated. See Utah Code 48-4-103
- Statute: A law passed by a legislature.
(2)(2)(a) The existence of a provision in this chapter does not itself create an implication that a contrary or different rule of law is applicable to a limited liability company that is not a benefit company.(2)(b) This chapter does not affect a statute or rule of law that is applicable to a limited liability company that is not a benefit company.(3)(3)(a) Except as otherwise provided in this chapter, Title 48, Chapter 3a, Utah Revised Uniform Limited Liability Company Act, applies to a benefit company.(3)(b) The provisions of this chapter control over any inconsistent provision of Title 48, Chapter 3a, Utah Revised Uniform Limited Liability Company Act.(4) The operating agreement of a benefit company may not limit, be inconsistent with, or supersede a provision of this chapter.