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Code · Utah · Title 31A — Insurance Code · Chapter 17

31A-17-407. Accounting for repurchased shares.

42 words·~1 min read·/ut/title-31a/chapter-17/31a-17-407

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31A-17-407. Accounting for repurchased shares.
When a corporation acquires its own shares under Section 31A-5-306 or in any other way, the acquired shares are accounted as a deduction from capital and not as assets.
Enacted by Chapter 242 , 1985 General Session
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