Utah statute
Utah Code Ann. § 76-16-208 — Illegal concurrence by a director in a dividend or division of capital.
Current through 2026 General Session
Part of Part 2: Corporation and Association Offenses, Utah Code.
Criminal charges under this statute
Full text of Utah Code Ann. § 76-16-208
Statutory text current through the 2026 General Session. This publication reproduces the official statutory text; it is not the official statutes of the State of Utah.
(1)(a) For purposes of this section, "director" does not include a director of: (1)(a)(i) a savings and loan association; or (1)(a)(ii) a building and loan association. (1)(b) Terms defined in Sections 76-1-101.5, 76-16-101, and 76-16-201 apply to this section. (2) An actor commits illegal concurrence by a director in a dividend or division of capital if the actor: (2)(a) is a director of a stock corporation; and (2)(b) concurs in a vote or act of one or more directors of the corporation, which vote or act is intended to either: (2)(b)(i) make a dividend except as permitted by Title 16, Chapter 10a, Utah Revised Business Corporation Act; or (2)(b)(ii) divide, withdraw, or in any manner pay to one or more stockholders any part of the stated capital of the corporation except as permitted by Title 16, Chapter 10a, Utah Revised Business Corporation Act. (3) A violation of Subsection (2) is a class B misdemeanor.
Official sources
Legal terms used in this section
Questions this section answers
Is illegal concurrence by a director in a dividend or division of capital a felony or a misdemeanor in Utah?
Illegal concurrence by a director in a dividend or division of capital is a Class B Misdemeanor in Utah under Utah Code Ann. § 76-16-208.
Which Utah statute covers illegal concurrence by a director in a dividend or division of capital?
Illegal concurrence by a director in a dividend or division of capital is governed by Utah Code Ann. § 76-16-208 (Illegal concurrence by a director in a dividend or division of capital).
This reference is informational and is not legal advice.