16-15-102. Definition of business trust. As used in this chapter: (1) “Beneficiary” means a person holding a certificate representing a beneficial interest in the trust estate and assets. (2) “Business trust” has the same meaning as in Section 7-5-1. (3) “Division” means the Division of Corporations and Commercial Code. (4) “Person” means an individual, general […]
16-15-103. Name. (1) The words “business trust” shall be the last words of the name of every business trust registered under this chapter. The name of a business trust registered under this chapter shall be distinguishable, as provided in Subsection 16-10a-401(5), on the records of the division from any corporation, partnership, or limited liability company, […]
16-15-104. Registration required — Certificate of registration. (1) A business trust shall register with the division before doing business in the state. (2) The certificate of registration of a business trust shall set forth: (a) the name of the business trust; (b) the period of its duration; (c) the business purpose for which the business […]
16-15-105. Filing of certificate — Fees. (1) A business trust is registered when two copies of the certificate of registration are filed with the division. The documents to be filed shall be true copies made by photographic, xerographic, electronic, or other process that provides similar copy accuracy of a document that has been properly executed. […]
16-15-106. Powers. (1) A business trust registered under this chapter may in its trust name: (a) sue; (b) subject to the limitations in the declaration of trust, acquire title, lease, mortgage, convey or otherwise deal with real and personal property, or any interest in real and personal property. (2) (a) A business trust may not […]
16-15-107. Expiration of filing — Notice. (1) A filing under this chapter shall be effective for a period of three years from the date of filing plus the notice period provided in Subsection (2). (2) (a) If no new filing is made by or on behalf of the trust who made the original filing within […]
16-15-108. When amendments are required. (1) An amended certificate shall be filed with the division not later than 30 days after any change in: (a) any person acting as a trustee of the trust, or the address of any trustee; (b) the registered agent of the trust; (c) the registered office of the business trust; […]
16-15-109. Registered agent. (1) A business trust shall continuously maintain an agent in this state for service of process on the business trust. (2) The agent of the business trust shall be a person residing or authorized to do business in this state. (3) If a business trust fails to maintain a registered agent in […]
16-15-110. Trustee and beneficiary governed by declaration of trust — Common law. (1) A trustee or beneficiary of a business trust shall be governed by all the provisions of the declaration of trust of the business trust. (2) This chapter neither affects nor alters in any way the rights, powers, and obligations, of a trustee […]
