Utah § 16-13-9 - Requirement before commencing business -- Cash consideration for shares -- Minimum stated capital.
Full text of Utah Utah Code § 16-13-9 — Requirement before commencing business -- Cash consideration for shares -- Minimum stated capital., with citation guidance and answers to common questions.
§ 16-13-9. Requirement before commencing business -- Cash consideration for shares -- Minimum stated capital.
A development corporation incorporated after July 1, 1979, may not transact any business or incur any indebtedness, except as is incidental to its organization or to obtain subscriptions to or payment for its shares, until there has been paid in for the issuance of shares consideration in cash of at least $300,000. A development corporation shall have a stated capital of not less than $300,000.
Amended by Chapter 378, 2010 General Session
Source: official Utah text · Last verified 2026-08-27
Frequently Asked Questions About Utah § 16-13-9
What does Utah Code § 16-13-9 cover?
Section 16-13-9 ("Requirement before commencing business -- Cash consideration for shares -- Minimum stated capital.") 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 § 16-13-9?
A common citation format is "Utah Code § 16-13-9" (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 § 16-13-9 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.