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2012 Utah Code
Title 48 - Partnership
Article 2c - Utah Revised Limited Liability Company Act
Section 803.1 - Individual profits interest.
Universal Citation:
UT Code ยง 48-2c-803.1 (2012)
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48-2c-803.1. Individual profits interest.
For the purpose of determining compliance with a provision of this chapter that conditions rights, consents, or actions on the participation of members holding a certain percentage of the company's profits interests, unless otherwise provided in the articles of organization or the operating agreement, each member's profits interest shall be determined based on the members' capital account balances on the date on which compliance is measured.
Enacted by Chapter 141, 2005 General Session
Repealed by Chapter 353, 2011 General Session
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