2013 Legislation

This bill modifies Title 48, Partnership, to enact a new Unincorporated Business Entity Act, and modifies references to the partnership or unincorporated business entities provisions throughout the Utah Code.

This bill enacts provisions related to partnerships, including:
general provisions;
limited liability partnerships;
foreign limited liability partnerships;
limited partnerships;
limited liability companies;
foreign limited liability companies;
professional services companies, series, and low-profit limited liability companies;

It has a delayed effective date of January 1, 2014 for new filings and January 1, 2016 for existing entities to come in to compliance.

This bill modifies the Uniform Commercial Code to address secured transactions and repeal outdated language.

This bill: addresses contents of financing statements;
modifies provisions related to name of debtor and secured party;
clarifies filings by a transmitting utility;