Individuals & Families
Small Businesses
Nonprofits
Employers
Employee Benefits Brokers
PEOs
Credit Unions
Membership Groups
Legal Information
Sign In
/
U.S. State Codes
/
Utah
/
Title 16 - Corporations
/
Chapter 13 - Business Development Corporations
Chapter 13 - Business Development Corporations
Section 1 - Organization of development corporations under Utah Revised Business Corporation Act -- Corporate name.
Section 2 - Definitions.
Section 3 - Purposes of development corporation.
Section 4 - General powers of business development corporation.
Section 5 - Bonds or securities, capital stock of development corporations -- Authority to purchase, hold, or dispose of -- Rights of holders -- Rights of financial institutions.
Section 8 - Board of directors -- Number and election of members.
Section 9 - Requirement before commencing business -- Cash consideration for shares -- Minimum stated capital.
Section 10 - Amount of net earnings set apart as earned surplus.
Section 11 - Designation of depository.
Section 12 - Licensing, supervision, and examination by commissioner of financial institutions -- Fees.