Section 1106 - Limit of one profession.

UT Code § 48-3a-1106 (2019) (N/A)
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(1) A professional services company organized to provide a professional service under this part may provide only: (a) one specific type of professional service; and (b) services ancillary to the professional service described in Subsection (1)(a).

(a) one specific type of professional service; and

(b) services ancillary to the professional service described in Subsection (1)(a).

(2) A professional services company organized to provide a professional service under this part may not engage in a business other than to provide: (a) the professional service that it was organized to provide; and (b) services ancillary to the professional service described in Subsection (2)(a).

(a) the professional service that it was organized to provide; and

(b) services ancillary to the professional service described in Subsection (2)(a).

(3) Notwithstanding Subsections (1) and (2), a professional services company may: (a) own real and personal property necessary or appropriate for providing the type of professional service it was organized to provide; and (b) invest the professional services company's money in one or more of the following: (i) real estate; (ii) mortgages; (iii) stocks; (iv) bonds; or (v) another type of investment.

(a) own real and personal property necessary or appropriate for providing the type of professional service it was organized to provide; and

(b) invest the professional services company's money in one or more of the following: (i) real estate; (ii) mortgages; (iii) stocks; (iv) bonds; or (v) another type of investment.

(i) real estate;

(ii) mortgages;

(iii) stocks;

(iv) bonds; or

(v) another type of investment.