UTA LEG Corporate Dissolutions


On Feb. 29, UTA LEG passed bill on corporate dissolution amendments


  • UTA LEG passed bill SB 14 regarding amendments to corporate dissolution clauses.
  • Amends UTA LEG 16-6a-1412, UTA LEG 16-10a-1422, UTA LEG 48-1d-1103, others.
  • Bill Provisions
  • The bill proposes to allow certain administratively dissolved business entities to apply for reinstatement under the business entity's original name, if the name is available.
  • Administratively dissolved business entity retains name for five years after dissolution.
  • Applies the reinstatement process retroactively, and requires that a corporation or a pass-through entity report certain data on firm's or pass-through entity's tax return.
  • Legislative History
  • On Jan. 16, 2024, bill introduced in Senate; on Feb. 13, 2024, bill passed in Senate.
  • On Feb. 13, 2024, bill introduced in House; on Feb. 29, 2024, bill passed in House.
  • Effectiveness
  • Bill SB0014 would take effect on May 1, 2024.
  • Mar. 2024, UTA LEG Governor Approval
  • On Mar. 13, 2024, UTA LEG reported SB 14 was signed into law by the governor.

Regulators UTA LEG
Entity Types Corp
Reference Bill, 3/14/2024; Bill, SB14S03, 2/29/2024; Citation: *UTA LEG* 16-6a-1412, 16-10a-1422, 48-1d-1103;
Functions Compliance; Legal; Operations; Registration/Licensing; Research; Tax
Countries United States of America
Category
State
Products Corporate
Regions Am
Rule Type Final
Rule Date 2/29/2024
Effective Date 5/1/2024
Rule Id 203116
Linked to N/A
Reg. Last Update 3/13/2024
Report Section US Investment

Last substantive update on 03/18/2024