Utah § 16-21-401 - Annual benefit report. (Effective 10/1/2026)

Full text of Utah Utah Code § 16-21-401 — Annual benefit report. (Effective 10/1/2026), with citation guidance and answers to common questions.

§ 16-21-401. Annual benefit report. (Effective 10/1/2026)

Effective 10/1/2026
16-21-401. Annual benefit report.

(1)

A benefit company shall prepare an annual benefit report that includes:

(a)

a narrative description of:

(i)	the ways in which the benefit company pursued the benefit company's general public benefit purpose during the year and the extent to which general public benefit was created;

(ii)	the ways in which the benefit company pursued any specific public benefit that the benefit company's certificate of organization states is the purpose of the benefit company to create and the extent to which the specific public benefit was created;

(iii)

any circumstances that have hindered the benefit company's creation of general public benefit or any specific public benefit; and

(iv)	the process and rationale for selecting or changing the third-party standard used to prepare the benefit report;

(b)

an assessment of the overall social and environmental performance of the benefit company against a third-party standard:

(i)	applied consistently with any application of the standard in prior benefit reports; or

(ii)	accompanied by an explanation of the reasons for any inconsistent application; and

(c)

any connection between the organization that established the third-party standard, or the organization's directors or officers, or a holder of 5% or more of the governance interests in the organization, and the benefit company or the benefit company's members, managers, or officers or any holder of 5% or more of the outstanding interests in the benefit company, including any financial or governance relationship that might materially affect the credibility of the use of the third-party standard.

(2)	The assessment described in Subsection (1)(b) does not need to be audited or certified by a third party.

Renumbered and Amended by Chapter 92, 2026 General Session

Source: official Utah text · Last verified 2026-08-27

Frequently Asked Questions About Utah § 16-21-401

What does Utah Code § 16-21-401 cover?

Section 16-21-401 ("Annual benefit report. (Effective 10/1/2026)") 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 § 16-21-401?

A common citation format is "Utah Code § 16-21-401" (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 § 16-21-401 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

Official text of § 16-21-401 at the Utah source

Not legal advice. Verify against the official source and consult a licensed attorney in Utah.