{"data":{"id":"us-ut/utah-code-76-16-208","jurisdiction":"us-ut","citation":"Utah Code § 76-16-208","heading":"Illegal concurrence by a director in a dividend or division of capital.","body":"(1)\n(a) For purposes of this section, \"director\" does not include a director of:\n(i) a savings and loan association; or\n(ii) a building and loan association.\n(b) Terms defined in Sections 76-1-101.5, 76-16-101, and 76-16-201 apply to this section.\n(2) An actor commits illegal concurrence by a director in a dividend or division of capital if the actor:\n(a) is a director of a stock corporation; and\n(b) concurs in a vote or act of one or more directors of the corporation, which vote or act is intended to either:\n(i) make a dividend except as permitted by Title 16, Chapter 10a, Utah Revised Business Corporation Act; or\n(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.\n(3) A violation of Subsection (2) is a class B misdemeanor.","path":["Title 76 Criminal Offenses","Chapter 76-16 Offenses Concerning Business Practices","Part 76-16-2 Corporation and Association Offenses"],"source_url":"https://le.utah.gov/xcode/Title76/Chapter16/76-16-S208.html","current_through":"2026 General Session","vintage":"","retrieved_at":"2026-09-03T11:34:34Z","sha256":"f34dd5222b78c8ecd5e1a02599f409b45e45a1661cda5019c539b00abf994ded","source_id":"us-ut","stale":false,"prev":"us-ut/utah-code-76-16-207","next":"us-ut/utah-code-76-16-209"},"notice":"GroundRules: Original legal text. Not legal advice."}