16-18-1001. Statement of qualification.

336 words·~2 min read·/ut/title-16/chapter-18/16-18-1001

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

Effective 10/1/2026

(1)A partnership may become a limited liability partnership in accordance with this section.

(2)The terms and conditions on which a partnership becomes a limited liability partnership must be approved by the vote or consent necessary to amend the partnership agreement except, in the case of a partnership agreement that expressly addresses obligations to contribute to the partnership, the vote or consent necessary to amend those provisions.

(3)After the approval required by Subsection

(2), a partnership may become a limited liability partnership by delivering to the division for filing a statement of qualification. The statement of qualification must contain:

(a)the name of the limited liability partnership;

(b)the street address of the limited liability partnership's principal office and, if different, the street address of an office in this state, if any;

(c)the information required by Section 16-1a-404 ; and

(d)a statement that the partnership elects to become a limited liability partnership.

(4)A partnership's status as a limited liability partnership remains effective, regardless of changes in the limited liability partnership, until it is canceled in accordance with Subsection

(6)or administratively revoked in accordance with Section 16-18-1002 .

(5)The status of a partnership as a limited liability partnership and the liability of its partners for the debts, obligations, or other liabilities of the partnership while it is a limited liability partnership is not affected by errors or later changes in the information required to be contained in the statement of qualification.

(a)A limited liability partnership may amend or cancel the limited liability partnership's statement of qualification by delivering to the division for filing a statement of amendment or cancellation.

(b)The statement must be consented to by all partners and state the name of the limited liability partnership and in the case of:

(i)an amendment, state the amendment; and

(ii)a cancellation, state that the statement of qualification is canceled.

Renumbered and Amended by Chapter 93 , 2026 General Session