48-2c-1301 - Winding up defined. - Utah Statutes

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Statutes > Utah > Title-48 > Chapter-02c > 48-2c-1301

48-2c-1301. Winding up defined.
The winding up of a dissolved company is the process consisting of collecting all amountsowed to the company, selling or otherwise disposing of the company's assets and property,paying or discharging the taxes, debts and liabilities of the company or making provision for thepayment or discharge, and distributing all remaining company assets and property among themembers of the company according to their interests. There is no fixed time period forcompletion of winding up a dissolved company except that the winding up should be completedwithin a reasonable time under the circumstances.

Enacted by Chapter 260, 2001 General Session

State Codes and Statutes

Statutes > Utah > Title-48 > Chapter-02c > 48-2c-1301

48-2c-1301. Winding up defined.
The winding up of a dissolved company is the process consisting of collecting all amountsowed to the company, selling or otherwise disposing of the company's assets and property,paying or discharging the taxes, debts and liabilities of the company or making provision for thepayment or discharge, and distributing all remaining company assets and property among themembers of the company according to their interests. There is no fixed time period forcompletion of winding up a dissolved company except that the winding up should be completedwithin a reasonable time under the circumstances.

Enacted by Chapter 260, 2001 General Session

State Codes and Statutes

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State Codes and Statutes

Statutes > Utah > Title-48 > Chapter-02c > 48-2c-1301

48-2c-1301. Winding up defined.
The winding up of a dissolved company is the process consisting of collecting all amountsowed to the company, selling or otherwise disposing of the company's assets and property,paying or discharging the taxes, debts and liabilities of the company or making provision for thepayment or discharge, and distributing all remaining company assets and property among themembers of the company according to their interests. There is no fixed time period forcompletion of winding up a dissolved company except that the winding up should be completedwithin a reasonable time under the circumstances.

Enacted by Chapter 260, 2001 General Session