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2025 Utah Code
Title 48 - Unincorporated Business Entity Act
Chapter 4 - Benefit Limited Liability Company Act
Part 4 - Transparency
Section 402 - Availability of annual benefit report.
Universal Citation:
UT Code § 48-4-402 (2025)
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Effective 5/8/2018
48-4-402. Availability of annual benefit report.
Enacted by Chapter 201, 2018 General Session
48-4-402. Availability of annual benefit report.
- (1) Each year, a benefit company shall send the benefit report described in Section 48-4-401 to each member:
- (a) within 120 days after the day on which the benefit company's fiscal year ends; or
- (b) the day on which the benefit company delivers any other annual report to the benefit company's members.
- (2)
- (a) Within five days after the day on which a benefit company sends a benefit report to each member in accordance with Subsection (1), the benefit company shall:
- (i) subject to Subsection (2)(b), post a copy of the benefit report on a public portion of the benefit company's website; and
- (ii) deliver a copy of the benefit report to the division for filing.
- (b) If a benefit company does not have a website, the benefit company shall provide a copy of the benefit report, without charge, to any person who requests a copy.
- (c) The benefit company may omit any financial or proprietary information from a copy of a benefit report described in Subsection (2)(a) or (b).
- (d) The division may charge a fee established by the division in accordance with Section 63J-1-504 for filing an annual benefit report in accordance with this section.
- (a) Within five days after the day on which a benefit company sends a benefit report to each member in accordance with Subsection (1), the benefit company shall:
Enacted by Chapter 201, 2018 General Session
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