Utah Code 63E-2-102. Independent corporations

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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.
State: when applied to the different parts of the United States, includes a state, district, or territory of the United States. See Utah Code 68-3-12.5
Statute: A law passed by a legislature.

An independent corporation is granted a franchise to incorporate in this state in accordance with this title and its authorizing statute.