16-10b-102. Application and effect of chapter.
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Effective 5/13/2014
16-10b-102. Application and effect of chapter.
(1)This chapter applies to a benefit corporation organized under this chapter.
(2)The existence of a provision of this chapter does not of itself create an implication that a contrary or different rule of law is applicable to a business corporation that is not a benefit corporation. This chapter does not affect a statute or rule of law that is applicable to a business corporation that is not a benefit corporation.
(a)Except as otherwise provided in this chapter, Chapter 10a, Utah Revised Business Corporation Act , is applicable to a benefit corporation.
(b)A benefit corporation may be subject simultaneously to this chapter and other chapters of this title, including Chapter 11, Professional Corporation Act .
(c)This chapter controls over Chapter 10a, Utah Revised Business Corporation Act , and Chapter 11, Professional Corporation Act , or other laws.
(4)The articles of incorporation or bylaws of a benefit corporation may not limit, be inconsistent with, or supersede a provision of this chapter.
Enacted by Chapter 394 , 2014 General Session