Utah § 10a-1408 - Enforcement of claims against dissolved corporations.
Full text of Utah Utah Code § 10a-1408 — Enforcement of claims against dissolved corporations., with citation guidance and answers to common questions.
§ 10a-1408. Enforcement of claims against dissolved corporations.
16-10a-1408. Enforcement of claims against dissolved corporations.
A claim may be enforced:
| (1) | under Section 16-10a-1406 or 16-10a-1407 against the dissolved corporation, to the extent of its undistributed assets; or |
| (2) | against a shareholder of the dissolved corporation, if the assets have been distributed in liquidation; but a shareholder's total liability for all claims under this section may not exceed the total value of assets distributed to the shareholder, as that value is determined at the time of distribution. Any shareholder required to return any portion of the value of assets received by the shareholder in liquidation shall be entitled to contribution from all other shareholders. The contributions shall be in accordance with the shareholders' respective rights and interests and may not exceed the value of the assets received in liquidation. |
Amended by Chapter 302, 2025 General Session
Source: official Utah text · Last verified 2026-08-27
Frequently Asked Questions About Utah § 10a-1408
What does Utah Code § 10a-1408 cover?
Section 10a-1408 ("Enforcement of claims against dissolved corporations.") is part of the Utah Code, the codified statutory law of Utah. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Utah § 10a-1408?
A common citation format is "Utah Code § 10a-1408" (Utah). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Utah law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Utah official source linked on this page or consult a licensed Utah attorney.
How does Utah § 10a-1408 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Utah can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Utah.