Section 102 - Application and effect of chapter.

UT Code § 48-4-102 (2019) (N/A)
Copy with citation
Copy as parenthetical citation

(1) This chapter applies to a benefit company organized under this chapter.

(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. (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.

(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.

(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) (a) Except as otherwise provided in this chapter, Title 48, Chapter 3a, Utah Revised Uniform Limited Liability Company Act, applies to a benefit company. (b) The provisions of this chapter control over any inconsistent provision of Title 48, Chapter 3a, Utah Revised Uniform Limited Liability Company Act.

(a) Except as otherwise provided in this chapter, Title 48, Chapter 3a, Utah Revised Uniform Limited Liability Company Act, applies to a benefit company.

(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.