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Utah Code Title 48. Partnership--Unincorporated Business Entities § 48-1d-1305. Limit of one profession

Current as of May 05, 2022 | Updated by FindLaw Staff

(1) A professional services partnership organized to provide a professional service under this part may provide only:

(a) one specific type of professional service;  and

(b) services ancillary to the professional service described in Subsection (1)(a).

(2) A professional services partnership organized to provide a professional service under this part may not engage in a business other than to provide:

(a) the professional service that it was organized to provide;  and

(b) services ancillary to the professional service described in Subsection (2)(a).

(3) Notwithstanding Subsections (1) and (2), a professional services partnership may:

(a) own real and personal property necessary or appropriate for providing the type of professional service it was organized to provide;  and

(b) invest the professional services partnership's money in one or more of the following:

(i) real estate;

(ii) mortgages;

(iii) stocks;

(iv) bonds;  or

(v) another type of investment.

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Cite this article: FindLaw.com - Utah Code Title 48. Partnership--Unincorporated Business Entities § 48-1d-1305. Limit of one profession - last updated May 05, 2022 | https://codes.findlaw.com/ut/title-48-partnership-unincorporated-business-entities/ut-code-sect-48-1d-1305/

Read this complete Utah Code Title 48. Partnership--Unincorporated Business Entities § 48-1d-1305. Limit of one profession on Westlaw. Westlaw subscription required.

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