16-1a-806. Statement of interest exchange -- Effective date of interest exchange.

392 words·~2 min read·/ut/title-16/chapter-1a/16-1a-806

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

Effective 10/1/2026

(1)A domestic acquired entity shall sign a statement of interest exchange and deliver the statement of interest exchange to the division for filing.

(2)A statement of interest exchange shall contain:

(a)the acquired entity's name and type of entity;

(b)the acquiring entity's name, jurisdiction of formation and type of entity;

(c)if the statement of interest exchange is not to be effective upon filing, the later day and time on which the statement of interest exchange will become effective, which may not be more than 90 days after the day on which the division files the statement of interest exchange;

(d)a statement that the acquired entity approved the plan of interest exchange in accordance with Section 16-1a-804 ; and

(e)any amendment to the acquired entity's public record, if any, that was approved as part of the interest exchange.

(3)In addition to the requirements of Subsection

(2), a statement of interest exchange may contain any other provision not prohibited by law.

(a)A domestic acquired entity may deliver a plan of interest exchange that the domestic acquired entity signs and that meets all the requirements of Subsection

(2)to the division for filing instead of a statement of interest exchange.

(b)A domestic acquired entity delivering a plan of interest exchange to the division in accordance with Subsection (4)(a) has the same effect as delivering a statement of interest exchange to the division.

(c)If a domestic acquired entity delivers a plan of interest exchange as described in this Subsection

(4), all references to a statement of interest exchange in this part refer to the plan of interest exchange for that plan of interest exchange.

(5)A statement of interest exchange takes effect on the day and time:

(a)on which the domestic acquired entity delivers the statement of interest exchange to the division for filing; or

(b)specified in the statement of interest exchange that is later than the day and time on which the domestic acquired entity delivers the statement of interest exchange to the division for filing.

(6)An interest exchange in which the acquired entity is a domestic entity takes effect when the statement of interest exchange takes effect.

Enacted by Chapter 93 , 2026 General Session