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2024 Utah Code
Title 16 - Corporations
Chapter 10a - Utah Revised Business Corporation Act
Part 19 - Oppressive Conduct in a Closely Held Corporation
Section 1901 - Definition.
Universal Citation:
UT Code § 16-10a-1901 (2024)
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Effective 5/14/2019
16-10a-1901. Definition.
As used in this part:
Enacted by Chapter 272, 2019 General Session
16-10a-1901. Definition.
As used in this part:
- (1) "Oppressive conduct" means a continuing course of conduct, a significant action, or a series of actions that substantially interferes with the interests of a shareholder as a shareholder.
- (2) "Oppressive conduct" may include:
- (a) termination of a shareholder's employment; or
- (b) limitations on a shareholder's employment benefits to the extent that the limitations interfere with distributions or other shareholder interests disproportionately as to the affected shareholder.
- (3) "Oppressive conduct" does not include an action allowed by an agreement, the corporation's articles of incorporation, the corporation's bylaws, or a consistently applied written corporate policy or procedure.
Enacted by Chapter 272, 2019 General Session
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