16-20-906. Limit of one profession.
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Effective 10/1/2026
16-20-906. Limit of one profession.
(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) .
(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 the professional services company 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 the professional services company 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.
Renumbered and Amended by Chapter 92 , 2026 General Session