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Utah Code Title 16. Corporations § 16-6a-1417. Decree of dissolution

Current as of January 01, 2025 | Updated by Findlaw Staff

(1) As used in this section:

(a) “Decree of dissolution” includes an order of a court entered in a proceeding under Section 16-6a-1414 that directs that the affairs of a nonprofit corporation be wound up and liquidated under judicial supervision.

(b) “Judicial proceeding to dissolve the nonprofit corporation” includes a proceeding brought under Section 16-6a-1414.

(2) If after a hearing the court determines that one or more grounds for judicial dissolution described in Section 16-6a-1414 exist:

(a) the court may enter a decree:

(i) dissolving the nonprofit corporation; and

(ii) specifying the effective date of the dissolution; and

(b) the clerk of the court shall deliver a certified copy of the decree to the division which shall file it accordingly.

(3) After entering the decree of dissolution, the court shall direct:

(a) the winding up and liquidation of the nonprofit corporation's affairs in accordance with Section 16-6a-1405; and

(b) the giving of notice to:

(i)(A) the nonprofit corporation's registered agent; or

(B) the division if it has no registered agent; and

(ii) to claimants in accordance with Sections 16-6a-1406 and 16-6a-1407.

(4) The court's order or decision may be appealed as in other civil proceedings.

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Cite this article: FindLaw.com - Utah Code Title 16. Corporations § 16-6a-1417. Decree of dissolution - last updated January 01, 2025 | https://codes.findlaw.com/ut/title-16-corporations/ut-code-sect-16-6a-1417/

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