Utah Revised Business Corporation Act

Plain-English summary

This statute governs corporations formed in Utah. It covers formation by filing articles of incorporation, the role of bylaws, shareholder and director meetings and voting, issuance of shares, and corporate dissolution. Corporations carry heavier statutory formalities than LLCs.

Key provisions

• Formation: a corporation is formed by filing articles of incorporation with the Division.
• Bylaws: the corporation's internal governance rules, adopted as the statute provides.
• Meetings: the act sets requirements for shareholder and director meetings, notice, quorum and voting.
• Registered agent: every corporation must maintain a registered agent with a Utah street address.

Who it affects

Anyone forming, directing or holding shares in a Utah corporation.