UTA LEG Limited Liability Dissolution

On Feb. 26, UTA LEG passed bill amending limited liability company.

  • UTA LEG passed SB 101 on dissolution of limited liability company (LLC) guidelines.
  • Amended UTA LEG 48-3a-7-701 and UTA LEG 48-3a-14-1405 re dissolution of LLCs.
  • Provisions
  • Amendments change rules for dissolving a limited liability company and cause.
  • Specified LLC dissolved on the date specified in the LLC's certificate of organization.
  • Applied the dissolution requirement to any LLC regardless of LLC's formation date.
  • Legislative History
  • On Jan. 16, 2023, bill was introduced in Senate; on Jan. 29, 2024, bill passed Senate.
  • On Jan. 30. 2024, bill was introduced in House; on Feb. 26, 2024, bill passed House.
  • Effectiveness
  • UTA LEG 48-3a-8-701 amendments will be effective upon approval as of Jul. 1, 2024.
  • Reminder of the bill will take effect upon governor approval on May 1, 2024.
  • Mar. 2024 UTA LEG Governor Approval
  • On Mar. 13, 2024, UTA LEG reported that the governor signed and approved SB 101.

Regulators UTA LEG
Entity Types Corp
Reference PR, Bill, 3/13/2024; Bill SB0101, 2/26/2024; Citation: *UTA LEG* 48-3a-7-701, 48-3a-14-1405;
Functions Compliance; Financial; Legal; Operations; Product Administration
Countries United States of America
Products Corporate
Regions Am
Rule Type Final
Rule Date 2/26/2024
Effective Date 5/1/2024
Rule Id 202392
Linked to N/A
Reg. Last Update 3/13/2024
Report Section US Consumer

Last substantive update on 03/19/2024