Utah Code 58-28-606. Veterinary corporations, partnerships, and limited liability companies — Unlicensed individuals — Ownership of capital stock — Service as officer or director
Current as of: 2024 | Check for updates
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(1) As used in this section:
Terms Used In Utah Code 58-28-606
- 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.
- Director: means the director of the Division of Professional Licensing. See Utah Code 58-1-102
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- Person: means :(24)(a) an individual;(24)(b) an association;(24)(c) an institution;(24)(d) a corporation;(24)(e) a company;(24)(f) a trust;(24)(g) a limited liability company;(24)(h) a partnership;(24)(i) a political subdivision;(24)(j) a government office, department, division, bureau, or other body of government; and(24)(k) any other organization or entity. See Utah Code 68-3-12.5(1)(a) “Veterinary corporation” means a professional corporation organized to render veterinary services under Title 16, Chapter 11, Professional Corporation Act.(1)(b) “Veterinary limited liability company” means a limited liability company organized to render veterinary services under Title 48, Chapter 3a, Utah Revised Uniform Limited Liability Company Act.(1)(c) “Veterinary partnership” means a partnership or limited liability partnership organized to render veterinary services under:(1)(c)(i) Title 48, Chapter 1d, Utah Uniform Partnership Act; or
(2) A veterinary corporation may issue or transfer shares of the veterinary corporation’s capital stock to a person that is not licensed to practice veterinary medicine, surgery, and dentistry under this chapter.
(3) An individual who is not licensed to practice veterinary medicine, surgery, and dentistry under this chapter:
(3)(a) may not serve as an officer or director of a veterinary corporation; and
(3)(b) may serve as secretary or treasurer of a veterinary corporation.
(4) A veterinary limited liability company or a veterinary partnership may include an individual who is not licensed to practice veterinary medicine, surgery, and dentistry under this chapter.