Sen. Gene Davis has proposed legislation for the 2012 General Session which modifies the Utah Revised Business Corporation Act to allow domestic corporations to transfer to another state. Our Section has been asked to provide comments regarding the proposed bill to the bar's Governmental Relations Committee. You can review the language of the bill here: Download file. Post your comments below or send them directly to our Vice Chair, Steve Clayton at sclayton@cottonwoodcap.com. The sooner you share your input, the more likely it is to be considered. Thanks!
Comments (1)
We've received feedback that the default requirement of unanimous shareholder approval gives minority shareholders too much power - particularly given the likelihood that most bylaws aren't detailed enough to contain a contrary provision regarding this topic. Thoughts?
Posted by Brent Clayton | January 24, 2012 9:35 AM
Posted on January 24, 2012 09:35