16-21-201. Company purpose.
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/ut/title-16/chapter-21/16-21-201A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Effective 10/1/2026
16-21-201. Company purpose.
(1)In addition to the benefit company's purpose under Section 16-20-103 , a benefit company shall have a purpose of creating general public benefit.
(a)A benefit company's certificate of organization may identify one or more specific public benefits that are the purposes of the benefit company to create.
(b)Identifying a specific public benefit in accordance with Subsection (2)(a) does not affect a benefit company's obligation to create general public benefit in accordance with Subsection
(1).
(3)The creation of general public benefit and one or more specific public benefits is in the best interests of the benefit company.
(a)A benefit company may amend the benefit company's certificate or organization to add, amend, or delete a specific public benefit.
(b)An amendment described in Subsection (4)(a) is not effective unless adopted by at least the minimum status vote.
Renumbered and Amended by Chapter 92 , 2026 General Session