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2018 Utah Code
Title 16 - Corporations
Chapter 10a - Utah Revised Business Corporation Act
Part 13 - Dissenters' Rights
Section 1301 - Definitions.
Universal Citation: UT Code § 16-10a-1301 (2018)
Effective 5/13/2014
16-10a-1301. Definitions.
For purposes of Part 13, Dissenters' Rights:
Amended by Chapter 189, 2014 General Session
16-10a-1301. Definitions.
For purposes of Part 13, Dissenters' Rights:
- (1) "Beneficial shareholder" means the person who is a beneficial owner of shares held in a voting trust or by a nominee as the record shareholder.
- (2) "Corporation" means the issuer of the shares held by a dissenter before the corporate action, or the surviving or acquiring corporation by merger or share exchange of that issuer.
- (3) "Dissenter" means a shareholder who is entitled to dissent from corporate action under Section 16-10a-1302 and who exercises that right when and in the manner required by Sections 16-10a-1320 through 16-10a-1328.
- (4) "Fair value" with respect to a dissenter's shares, means the value of the shares immediately before the effectuation of the corporate action to which the dissenter objects, excluding any appreciation or depreciation in anticipation of the corporate action.
- (5) "Interest" means interest from the effective date of the corporate action until the date of payment, at the statutory rate set forth in Section 15-1-1, compounded annually.
- (6) "Record shareholder" means the person in whose name shares are registered in the records of a corporation or the beneficial owner of shares that are registered in the name of a nominee to the extent the beneficial owner is recognized by the corporation as the shareholder as provided in Section 16-10a-723.
- (7) "Shareholder" means the record shareholder or the beneficial shareholder.
Amended by Chapter 189, 2014 General Session
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