There is a newer version of the Utah Code
2016 Utah Code
Title 67 - State Officers and Employees
Chapter 4a - Unclaimed Property Act
Part 6 - Duties of All Holders
Section 602 - Businesses not to circumvent requirements of chapter.
UT Code § 67-4a-602 (2016) What's This?
67-4a-602. Businesses not to circumvent requirements of chapter. A corporation or business may not, through its articles of incorporation, by-laws, by private agreement, or otherwise, circumvent the unclaimed property process established by this chapter by making a private escheat that would:
- (1) take or divert funds or personal property into income;
- (2) divide funds or personal property among locatable patrons or stockholders;
- (3) place funds or personal property in education or other funds; or
- (4) divert funds or personal property by any other type of appropriation.
Enacted by Chapter 198, 1995 General Session
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