Renumbered 10/1/2026

211 words·~1 min read·/ut/title-48/chapter-3a/10-70

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

48-3a-1303. Ceasing to be a low-profit limited liability company.

(1)If a limited liability company that is a low-profit limited liability company at its formation at any time ceases to meet a requirement to be a low-profit limited liability company under Section 48-3a-1302 , the limited liability company:

(a)ceases to be a low-profit limited liability company on the day on which the limited liability company no longer meets the requirement; and

(b)if it continues to meet the requirements of this chapter to be a limited liability company, continues to exist as a limited liability company that is not a low-profit limited liability company.

(2)A low-profit limited liability company's failure to meet a requirement of Section 48-3a-1302 may be:

(a)voluntary, in order to convert to a limited liability company that is not a low-profit limited liability company; or

(b)involuntary.

(3)If a low-profit limited liability company ceases to be a low-profit limited liability company in accordance with this section, the limited liability company shall:

(a)change its name to conform with Section 48-3a-108 ; and

(b)amend its certificate of organization in accordance with Section 48-3a-202 .

Renumbered and Amended by Chapter 92 , 2026 General Session

Enacted by Chapter 412 , 2013 General Session