31A-5-307 - Reduction in capital. - Utah Statutes

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31A-5-307. Reduction in capital.
A stock corporation may reduce its capital by amendment of its articles of incorporationunder Section 31A-5-219, if the commissioner is notified of the proposed reduction at least 60days prior to the proposed effective date of the reduction. The commissioner may disapprove thereduction within 45 days after the notice if he finds that it would violate the law or would becontrary to the interests of insureds. His order shall explain in detail why the distribution isdisapproved.

Amended by Chapter 277, 1992 General Session

State Codes and Statutes

Statutes > Utah > Title-31a > Chapter-05 > 31a-5-307

31A-5-307. Reduction in capital.
A stock corporation may reduce its capital by amendment of its articles of incorporationunder Section 31A-5-219, if the commissioner is notified of the proposed reduction at least 60days prior to the proposed effective date of the reduction. The commissioner may disapprove thereduction within 45 days after the notice if he finds that it would violate the law or would becontrary to the interests of insureds. His order shall explain in detail why the distribution isdisapproved.

Amended by Chapter 277, 1992 General Session

State Codes and Statutes

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State Codes and Statutes

Statutes > Utah > Title-31a > Chapter-05 > 31a-5-307

31A-5-307. Reduction in capital.
A stock corporation may reduce its capital by amendment of its articles of incorporationunder Section 31A-5-219, if the commissioner is notified of the proposed reduction at least 60days prior to the proposed effective date of the reduction. The commissioner may disapprove thereduction within 45 days after the notice if he finds that it would violate the law or would becontrary to the interests of insureds. His order shall explain in detail why the distribution isdisapproved.

Amended by Chapter 277, 1992 General Session