{"data":{"id":"us-ut/utah-code-16-10b-106","jurisdiction":"us-ut","citation":"Utah Code § 16-10b-106","heading":"Termination of benefit corporation status.","body":"(1) A benefit corporation may terminate its status as a benefit corporation and cease to be subject to this chapter by amending its articles of incorporation to delete the provision required by Section 16-10b-104 or 16-10b-105 to be stated in the articles of incorporation of a benefit corporation. To be effective, the amendment must be adopted by at least the minimum status vote.\n(2)\n(a) Except as provided in Subsection (2)(b), if a plan of merger or share exchange would have the effect of terminating the status of a business corporation as a benefit corporation, the plan must be adopted by at least the minimum status vote to be effective.\n(b) Subsection (2)(a) does not apply in the case of a corporation that is a party to a merger if the shareholders of the corporation are not entitled to vote on the merger pursuant to Section 16-10a-1104.\n(3) A sale, lease, exchange, or other disposition of all or substantially all of the assets of a benefit corporation, unless the transaction is in the usual and regular course of business, is not effective unless the transaction is approved by at least the minimum status vote.","path":["Title 16 Corporations","Chapter 16-10b Benefit Corporation Act","Part 16-10b-1 General Provisions"],"source_url":"https://le.utah.gov/xcode/Title16/Chapter10b/16-10b-S106.html","current_through":"2026 General Session","vintage":"","retrieved_at":"2026-09-03T11:34:33Z","sha256":"6ad2d9f7c5afc3c5f73497c683f19b2e7c739f5fabd018b20d6d8bb0b7efb49a","source_id":"us-ut","stale":false,"prev":"us-ut/utah-code-16-10b-105","next":"us-ut/utah-code-16-10b-201"},"notice":"GroundRules: Original legal text. Not legal advice."}