2012 Utah Code
Title 48 - Partnership
Article 2c - Utah Revised Limited Liability Company Act
Section 1510 - Restrictions on transfers by members.

(1) Except as provided in Subsection (2), a member of a professional services company may sell or transfer the member's interest in the company only to the company or to an individual who is licensed or registered by this state to render the same type of professional services as those for which the company was organized.

(2) Upon the death or incapacity of a member of a professional services company, the member's interest in the company may be transferred to the personal representative or estate of the deceased or incapacitated member who may continue to hold that interest for a reasonable period but shall not be authorized to participate in any decision concerning the rendering of professional services.

Enacted by Chapter 260, 2001 General Session

Repealed by Chapter 353, 2011 General Session