Utah Revised Nonprofit Corporation Act
Utah Code Title 16, Chapter 6a
Click here for the current Nonprofit Corporation Act.
The below is not updated with new changes to the law after 2018!
16-6a-1405. Effect of
dissolution.
(1) A dissolved nonprofit corporation continues its
corporate existence but may not carry on any activities except as is
appropriate to wind up and liquidate its affairs, including:
(a) collecting its assets;
(b) returning, transferring, or conveying assets held
by the nonprofit corporation upon a condition requiring return, transfer, or
conveyance, which condition occurs by reason of the dissolution, in accordance
with the condition;
(c) transferring, subject to any contractual or legal
requirements, its assets as provided in or authorized by its articles of
incorporation or bylaws;
(d) discharging or making provision for discharging
its liabilities; and
(e) doing every other act necessary to wind up and liquidate
its assets and affairs.
(2) Dissolution of a nonprofit corporation does not:
(a) transfer title to the nonprofit corporation's
property including title to water rights, water conveyance facilities, or other
assets of a nonprofit corporation organized to divert or distribute water to
its members;
(b) subject its directors or officers to standards of
conduct different from those prescribed in this chapter;
(c) change quorum or voting requirements for its board
of directors or members;
(d) change provisions for selection, resignation, or
removal of its directors or officers, or both;
(e) change provisions for amending its bylaws or its
articles of incorporation;
(f) prevent commencement of a proceeding by or against
the nonprofit corporation in its corporate name; or
(g) abate or suspend a proceeding pending by or
against the nonprofit corporation on the effective date of dissolution.
(3) Nothing in this section may be applied in a manner
inconsistent with a court's power of judicial dissolution exercised in
accordance with Section 16-6a-1414 or 16-6a-1415.